While I'd love to see a major upgrade to the Touch that included all of these items, I have a hard time understanding why they would add GPS...
Without GPS, you can still get a fairly accurate location via WiFi. But without a cell connection, GPS won't be very helpful for maps when you're out on the road. I understand that the new maps option is vector-based and offers better caching than the rasterized Google Maps, but still. Does the new maps option cache a large enough area for this to be useful? Without that, GPS and no cell wouldn't be useful enough on its own.