I own the ipod Touch 2 Gen so I could probably help you out a bit
1. How do you like it?
Love it, definitely a great toy to have around, so worth it!
2. How does the internet work? IE: Can you go on this message board for example using the WI-FI internet?
The wifi is great, pretty quick, about the speed of a normal laptop.
3. How does the email work on it?
You have an app called "mail" that you choose you email, yahoo, msn, etc. Then you enter your email address and password, and it sets up an easy to use setup that allows you to view, delete, and browse new and old emails.
4. What are your pros/cons on it?
Pros:
Wifi
Apps from the new App Store

Holds music and videos that are easy to find.
Calendar
Speaker
Holds your Contacts
Holds all your photos
Itunes online music store
New sleek design to impress your friends/coworkers/grandparents

all the great apps i cannot express enough! Like:
Tap Tap Revenge
Super Monkey Ball
Photo Editor
Games that use the accelerometer
Virtual Pianos, and other instruments
Cons:
You have to be careful not the brag about it to much lol
5. What is "Jail Break" I hear people talking about???
This is an intresting topic that i know very much about, but as of now the 2 Gen ipod touch cannot be jailbroken, only the First Gen can. now jailbreaking is a way of downgrading the software to version 1.1.1 on the ipod touch and downloading a freeware off of the internet and bieng able to use third party applications, using an app named installer, to download other apps that do interesting things (this was before the app store.)
Hope i helped, IM me if you have any more questions.