There are several ways to create a playlist for the Sansa Clip. There are many posts on the forum. You may wish to search for other ways. http://forums.sandisk.com/sansa/search?submitted=true&q=creating+playlist
There is a way to do it through WMP and there is a good article on the knowlegebase:
Here is one on translating an m3u list:
There is a small utility program for the Sansa e200 series, but I’m thinking it will work for the Clip/Fuze as well.
http://www.anythingbutipod.com/forum/showthread.php?t=2381
http://www.download.com/Sansa-playlist-creator/3000-2169_4-10723962.html
But what works easiest for me in MTP mode , is to open up the Clip in Windows Explorer, open the music directory. select a group of mp3’s then right click them and select create playlist. This may not work in MSC mode.
Good luck,