The FW-R8 has a three-tray CD player, a tuner, a set of speakers that look cool until you put on the odd, undersized protection screens, and the thing that makes it worth talking about, a rewritable CD burner. (It doesn't have a tape player, which I suppose at this point is considered as archaic as records, but there is an auxiliary input if you have a tape player component lying around). You can do high-speed copying; not only straight CD-to-CD burns but also compilations of songs from three CDs. For example, you could take the three albums John Lennon made with Yoko Ono, program in just the songs you want, and voilà, you have a CD with nothing but Yoko on it (unless you prefer your music original and on-key, in which case you may choose the Lennon tracks).
Remember when the biggest fear of the recording music industry was the CD copier? The image of some teenager in Akron duping Britney Spears albums for all his friends had executives tossing in bed, teeth ground to nubbins. And now that those copiers are here it hardly matters. As MP3s and their ilk spell the end of music merchandising as we know it and the recording industry scrambles to find a new business model, that Akron teen is the least of their worries. The days of the CD are, after all, limited. But while record execs gnash their teeth over MP3s and Napster, the recordable CD has become a fact of life, and the new Philips CDR Mini HiFi system FW-R8is everything the execs were afraid it would be.