i think i've solved my problem: 1, i re-formatted the CF card using FAT32 format 4k cluster size which helped immensely. turns out the card may have been originally formatted in fat12(?) cluster size by my camera. this wasn't perfect though. some mp3's still wacked the player out every now and then.
only a few of the mp3's i tried to play in my case were variable bitrate, at both low and high bitrates.
i switched to winampaq and it works great! what a great player, no problems.
it can play the tunes and in most respects feels like a sturdy peice of software. it's also playing my OGG files. the playlist display has issues on my machine though, when i move tracks around the letters and numbers turn to cryptic garble. i can get the playlist back by pressing 'playlist' button twice, no big deal i guess. i'm checking out how to do skins on it ;-)
i also picked up a new 256M CF card this past weekend, dumped 250+MB of mp3's on it and it's working perfectly for the last couple of hours. i looked at the format info and it's at FAT16/4K.
i know there are a few factors at work here. possible faulty CF card, wack formatting, and WMP. it's going to take a few days of listening to iron out exactly what does what, but i wanted to post my quickfix for other folks wanting to hear their music