I think, once I've played with one, I'm going to be pretty much sold on the new Nanos. As awesome as the Touch seems with regards to interface and, well, the fact it's a touch-screen, it's not quite as portable as I need it to be and I'm really not interested enough in the games or watching TV on a little screen to justify paying so much more. Plus I actually can't afford to pay that much.
It'll be the 16GB Nano for me. I'll be interested to see how Genius works out when I play with it but I predict I'll love the screen, the interface, the accelerometer and if I can get some kind of waterproof sleeve it can live in my bra when I run.
(Although I'm hoping you can turn off shake-to-shuffle to avoid unintentional shuffles when bouncing around.) Plus "oooh" to the recording voice memos thing, that's actually useful for me.
The only real problem is that I want all the colours. Damn you, Jobs!