If someone wanted to homebrew their own player hardware, what is the minimum that the Rockbox requires? For example, is a Von Neuman type processor required, or would a Harvard type processor (IE: AVR) work? Processor width (8, 16, 32 bits?). How about minimum memory (program and data) required? Speed (mhz, mips, instructions per second ?).
The Chumby hacker board plus a cheap TFT LCD with touchscreen (you can get a 2.4" with TS and controller for about $20) for a total of under $100 (plus an SD card) would get you going.
Atmel's Xmegas have up to 256kb (384mb soon) flash and can support several mb of external ram. They have built in D/A with DMA support that might be usable for codecs. Speed is only 32mhz (maybe can be overclocked a liltte) though.