Originally Posted by Sweetpea
If they would take the SII as base, the price would be so high, that it wouldn't be worth it.
This. Currently, the Samsung Galaxy S II is going for $500~600 with no contract. A player based on the SG2 is going to be very expensive (likely in the region of $400).
The Samsung Galaxy Player has the same amount of RAM as the Samsung Galaxy S (512MB).