Go into iTunes, preferences, Devices, delete all the backups.
Go into Finder, user, Library, Application Support, Mobilesync, backups, delete all the folders in there.
Empty trash can.
Restart computer.
Hard reset iPhone (hold down home button and sleep/wake button for 10-15 seconds)
You shouldn't lose any data at all with this method. When everything booted up, it backed up with no issues at all.
This worked for me; without losing any data, my iPod touch syncs fine now.