Here you go. You'll need to jailbreak your iTouch first, however.
1. FTP into /Applications/MobileMusicPlayer
2. Open up Info.plist in Property List Editor
3. Change UIRoleInfo>0>Platforms>0 from M68 to N45.
4. Change UIRoleInfo>1>Platforms>0 from N45 to M68.
5. Add a com.apple.mobileipod-MediaPlayer item in /System/Library/CoreServices/Springboard.app/N45AP.plist
6. If you get the iPod app to show up, but then still have the separated Music/Videos icons on your springboard, go into System>Library>CoreServices>SpringBoard.app and edit N45AP.plist
7. Edit the "special" section and add 2 entries for display identifiers of com.apple.mobileipod-AudioPlayer and com.apple.mobileipod-VideoPlayer and they'll be hidden next time Sprinboard.app restarts