Reported here:
New Firmware: iFP-700/800/900/1000 Series and N10
Also, not all the new firmware is v1.25. 
As for the firmware, you can install whichever you prefer. The EU firmware supposedly has a volume cap.... however I am not sure if iRiver actually follow the volume cap law (I think it only actually applies to France, but most audio player manufacturers end up capping all European players)
__________________
Current: Shure E2c/Beyer Dynamic DT770 + PA2V2 + SE W950i Walkman Phone Former Players: iRiver H340, iMP-550, iHP-120, iHP-140, iFP-1095, iFP-990 | 2GB iRiver S10 iAudio4 | iAudio5 | MSC H-64 | Panasonic SLMP30 | 60GB 5G iPod | 4GB iPod Nano (1G) | 4GB Meizu MiniPlayer
|