Macworld, man...Macworld.
I say February. I think we'll see a 32 gb Touch, a 16 gb Nano, and a 16 gb iPhone all on the same day. I YOUD say that MacWorld will be all about the iMac, but I think the next thing for the iMac is gonna be a full ground-up form-factor redesign, something for which it is quite overdue. But since we just go t3h Aluminum iMac, that seems unlikely. The iPod is the core of the apple biz. G1 products are ALWAYS Beta testers in the eyes of Apple. By then, the iPhone will be 8 months old, and the iTouch will be not far behind. Seems obvious to me that the iPhone was a tester to see just how popular a touch-screen device would be (and why not release that to include the one element Mac peeps have been clamboring for for years, that being a mobile phone). Now the iTouch is here...but very limited. The votes are in...people want larger capacity and physical volume buttons. A slightly less outspoken crowd wants e-mail (which seems silly to me, since any 3rd-party dev. can come up with a POP e-mail client). I would be more than a little surprised if we didn't get at least one of those things, and it seems to me that higher capacity is the change that requires the least amount of tinkering with the actual device. I'll likely be the same price-point as the 16 is now, but that's to be expected. Good news for you penny pinchers...they'll likely do away with the 8 gb altogether and price the 16gb at the 8gb's launch price.
So needless to say...I'm buying my iTouch in February...hopefully. 87