Hmm. Surely if it was a disk problem this problem would be permanent? However as long as I don't turn it off it works fine. (i've just re-formatted it and still get the same problem)
Alongside this I can turn it on and it'll work perfectly sometimes, then others I get the codec failure and loss of all personal settings.
EDIT:
Just to add If I "play" the rockbox.iriver file then my settings are restored; same as if I were to install a newer daily build... Any idea as to what could be doing this?