Er, wha?
Capabilities: Plastered all over this site, GP2X.com, the Internet in general... Check wiki.gp2x.org for a very good listing of them. It's not hard to find.
2nd Edition? Been ruled out in the near future. It was only a rumor started by miscommunication in any case.
Bad stuff? It's all firmware related, i.e. not trouble with the unit, but trouble with the software. You'll note that nearly everyone with a problem on this forum has either fixed it or is waiting on new firmware.
"if it really supports SDIO cards". No reason to believe it doesn't, not that anyone I know of has tested it as yet. The physical devices are certainly capable of it, though whether linux support for these devices exists is questionable. If it ever exists, it will exist on the GP2X, and quickly, believe you me.
Anyway, now you can be flamed by others for being a lazy, ignorant fool.