Gizmodo had a chance to take a look at the Zune. Surprisingly, they really liked it, though none of its differentiating factors were available.
Brian Lam said:
The device is tighter and more physically beautiful than the iPod Touch and it’s got a better UI, the main menu’s scrolling so natural through the swipe gestures. There’s a little note on the side, under the volume toggle—"Hello from Seattle." The power button is up top. The home button is nice and prominent, a bar rather than a round button on the Touch. It’s smaller. And the accelerometer is more swift in responding to repositioning; images rotate very fast.