Are you sure? I've got 1.1.4 (Obviously!) and I've set it to check at 15-minute intervals. I will often turn my Touch on and it will have new mail.
My bad, lol, I had mine not set to get it automatically (when I had 1.1.4) so I kinda got used to it working that way and thought it was a default behavior. I did have to manually turn this on in the 2.0 firmware though.