It's a great idea, both my kids have one! They love soft night time music so I put 'music for dreaming' on for them and they both fall asleep to that. DD also plays her wiggles CD on it. She is three and can use it herself now and I trust her not to break it. But until she turned 3 it was kept out of reach and I controlled it for her.

DD has a purple sanyo one and DS has a black one. Not sure how much they were as they were both given by grandparents as Christmas gifts!