Th eipod thing is a great idea.
If any one wants to try it out without having to mak eup a bunch of flashcards try downloading Neo's Hanja http://neo_hanja_2003.tripod.com/Neohan ... a_main.htm
Which is a great program for learning Korean vocabulary (with the Hanja roots- which as Keith says is really the key to nailing it). The people behind it obviously put a lot of work into it.
Open it in Powerpoint then save the file as Jpegs. Drag and drop them into Itunes.
You'll have over 1500 flashcards made in an instant, enough to keep you busy for a long time. Neo separates them into levels, but you can go through them however you wish.
Now I just need a bigger screen on my ipod nano so I can make out the hanja...