backup and restore questions

If I get a new ipod Touch, am I able to do a "restore backup" to it, so that it will acquire all information from my old Touch, or will iTunes only restore a backup to the same iPod it was made from?

Also, if I can't restore to a different iPod, is there a way for me to backup settings, notes, contacts, from my current iPod, and transfer them to new iPod when I get it?

Thanks for your help.