I emailed Iriver about releasing a recovery tool for bricked players and I got this response.
Dear Iriver Customer,
I would like to apologize for the inconvinience, the recovery tool for our players have been out it comes in the firmware update, instead of choosing update you have the choice of picking recovery tool
Please let us know if there is anything we can further assist you with, you can also reach us at (562) 758-6393
Thank you for being an Iriver customer
Iriver Customer Representative