Here's a link to the developer image you want.

First, install the newer version of Emplode.

Then go to Start -> Programs -> Rio emplode -> Rio Upgrade Wizard. Select the developer image you downloaded from the link above. Select your COM port and apply the upgrade.

Upon rebooting the player, you should be able to connect via Hyperterminal.

If you are running Windows XP, you will need to upgrade the USB drivers before you can connect to the player via USB. Instructions are in the 2.00 release notes.
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~ John