It's VERY nice, apparently has the same processor as the e100, but is noticeably faster, probably due to the additional RAM (32MB). 

The camera is 640 x 480 still, but the picture taking application is excellent, with the update being very fluid, as you would expect from an internal camera. 

The phone includes a 'Camcorder' application which records at QVGA, and is suprisingly effective. 

The new joystick is a definite improvement on the old one, being very simple and smooth to use. 

I haven't had a big play with WMP, but it does have WMP9 codecs, and allows WMA format ringtones too. 

I haven't seen the egg timer at all in the period I had to play with it. 

Here is what I think is the best bit... MS have provided a native MMS client in Smartphone 2003! This means no more EZOS client, and the MS client is a vast improvement. 

Activesync over Bluetooth is supported in the base OS, so that will work, but the Headset profile needs to be implemented by the OEM - I think it's safe to assume that HTC have implemented this, although I haven't personally tested it. 

The E200 includes the new enhanced start menu previewed in the Orange presentation some months ago, which works pretty well. 

All in all, the E200 is a pretty exciting bit of kit, and something I'm definitely looking forward to getting my hands on for real testing!