It's possible if:
You can use iCloud on a 2nd gen ipod touch IF you already have an iCloud account. I also have a 4th gen ipod touch with iCloud account. There are other ways to obtain an account such as updating from mobile me, ect. I don't know of other ways but you can google it. I just know it works if you ALREADY have an iCloud account. Here is what I've found so far:
Connect your device by WiFi, then:
Mail:
Make a new Others > MailAccount in Settings under Mail, Contacts, Calendars. Set it as follows:
IMAP (incoming Server)
Server: imap.mail.me.com
SSL: yes
Port: 993
Username: The Apple ID you use for iCloud (username@me.com)
Password: your password
Description: whatever you want
Outgoing mail server: smtp.mail.me.com
Server: smtp.mail.me.com
SSL: yes
Port: 587
smtp Auth: yes
Username: The Apple ID you use for iCloud (username@me.com)
Password: your password
Calendars:
Make a new Others > CalDAV account in Settings under Mail, Contacts, Calendars. Set it as follows:
Server: caldav.icloud.com
User Name: The Apple ID you use for iCloud (username@me.com)
Password: your password
Description: whatever you want
Next open the Calendar App and select (check) the Calendars you wish to view on the device.
(some devices will sync quickly, others require restart)
Contacts:
Make a new Others > CardDAV account in Settings under Mail, Contacts, Calendars.
Server:contacts.icloud.com
User Name: Apple ID you use for iCloud (username@me.com)
Password: your password
Description: whatever you want
(if you have problems with sync, goto Advanced Settings. SSL=OFF. let it re-verify. Settings should be re-set by iCloud to
SSL: ON, and Port: 443)
Find My iPhone:
Make a new MobileMe account in Settings under Mail, Contacts, Calendars.
User Name: Apple ID you use for iCloud (username@me.com)
Password: your password
There will be a switch to turn on Find My iPhone.
Documents:
Apps accessing iCloud for document storage require the iOS 5 SDK so I don't think we'll be able to use document syncing on iOS 4.
(NOTE: you may notice that AFTER you have used the info above, the actual Server listed on your device will be updated by
iCloud based upon your Username and Password)
Hope this is useful !