Click on the link in my sig and you can read all about my journey with it. Overall though I'm very happy.
Navigating the menus can be a little bit of a pain (and to be honest would be almost impossible without text) but I generally just let it play and hit random when I want to change to a different artist.
The CD1 to CD6 buttons don't represent folders but rather the different menu functions. I'm certain you can have as many playlists or folders as you want. I sync my USB stick using Windows Media Player 11, which arranges songs in folders by album and then artist on the stick.
Yes, the GW300 is nearly double the price of the GW Lite, but like I said I reckon it's worth it. There's something strangely satisfying about having the track info scrolling along the display