Just in case anyone had any worries about the sound/video recording capability of the touch, I decided to test it out during an, obviously, very loud show. The thing is great. Remember to set it to 720p.
http://www.youtube.com/watch?v=TYqfFs3PuKg&feature=player_embedded#!
http://www.youtube.com/watch?v=TYqfFs3PuKg&feature=player_embedded#!