On The Go means that the device has a built in interface for file transfer. I.E. no PC is required to transfer files. I have a similar device that holds 80 gigs and it is really great. The only problem is battery life. You can imagine transfering a couple of gigs runs the battery down in no time.
I guess maybe with usbhost in devhook you could use it as directly attached storage. But out of the box, all it does is transfer files to the memory card without the need for a PC.
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