planing to by myself a small portable mp3/wav player.
Whats the best option in that league?
Depends...
1. How small is "small" for you? Ipod Nano form factor? Ipod shuffle form factor?
2. How you define best? Best sound? Most features? Best battery life? Best value for money? Biggest storage? Customizable? You get it...
For listening and versatility, I'd throw in a vote for the iRiver H3xx series. Rockbox, nice colour screen, and can be used for recording if you're stuck with nothing else. Basically any player that can run rockbox is cool with me. If you don't need the recording feature, check out Sandisk Sansa, can be picked up for cheap on Ebay.
For best sound, iAudio has gotten some good reviews, but others here can vouch for which particular model is good.
/J