Iriver H120 to the limit

[Zen5656]

Hey! I just bought a H120 very cheap but used from ebay. I now ordered

-Y cable that is charger and dataconnection and connects via usb port http://cgi.ebay.de/ws/eBayISAPI.dll?ViewItem&item=390070803328&ssPageName=ADME:X:DERP:DE:1123

-new battery 2200mHa I hope this one is good: http://cgi.ebay.de/ws/eBayISAPI.dll?ViewItem&item=260989594230

-Adapter 1,8IDE to CF. I hope this works? http://www.ebay.de/itm/251058984382?ssPageName=STRK:MEWNX:IT&_trksid=p3984.m1439.l2649
-32 GB CF Card from Amazon new: http://www.amazon.de/Transcend-Ultra-Speed-Compact-Flash-Speicherkarte/dp/B0012Q2PD6/ref=sr_1_14?s=ce-de&ie=UTF8&qid=1336749639&sr=1-14

Now I have a feq questions:
-there is still the original firmware on the h120. How do I upgrade? Can I leave the music files on the player?
-how do I upgrade to the new CF card. Do I need to format it externally before or is it a "iriver" file system or so?
-what ibasso works good with the h120? What ist the best solution so far? I use a Sennheiser HD25.
-any other recommandations? I want the best portable audiophile player

Thank you very much!

bye