Ipod Dead?

Wondering if this could be the end of my free Ipod?

After listening to an audio book yesterday, the battery showed terribly low, so I connected it to the PC to charge for a few hours. After disconnecting it I tried to turn it on, however was greeted with the apple.com/support/ipod message and occasionally the "Please wait very low battery message". At the moment it is plugged into a USB port and continues to cycle itself through the reset phase.

I've gone through the reset selections and the disk mode selections with no luck so far.

I'm going to be bummed if this is the end of the road for my iPod.