It's rather large compared to a regular MP3 player or even an MP3 equipped phone -- presumably you plan to carry a phone as well.
You'll either love or hate the touch screen.
The latest Apple products force you to use iTunes which is by no means the most logical piece of software I've used (indeed it alone is a reason for avoiding Apple products).
Personally, I'd look at Sony players instead as they now support drag and drop and folders (so you can use untagged tracks and simply import tracks using Windows). If you can find them also see the Creative and Cowon models.
I've been hearing a lot of hype on the ipod touch and need help deciding if I should get it.

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