the touch is a great device, real sleek and sexy. The touch interface is awesome. The problems though is that the battery life isnt so good, and 16gb is just too small.
I know the argument about never being able to listen to your entire library in one charge, but i don't buy it. If you're anything like me, you don't know what you're gonna want to listen to later on in the day, so it's impossible for me to pick certain albums to put on in the morning before i go out. Sure, I'll never listen to my whole library in one day, but I sure as hell enjoy the option to pick whatever I want on a whim. Also, if you like having TV shows and movies with you, the space becomes all the more smaller.
The classic might not be as fancy as the touch, but that doesn't mean it's a worse device. The battery life is phenomenal, the click wheel is tried and true and having the ability to access anything in your music movies and tv library is fantastic.