Right now, I'm in the process of jailbreaking my iTouch! I finally sucked it up, and took the plunge. Right now, I'm on step 7 "getfile /dev/rdisk0s1 iphonefs/rdisk0s1 314572800". So far, so good. If everything works, I'll be posting a video of all the (working) iPhone apps, and Installer.app. 
UPDATE: All of the iPhone apps are now on the iPod Touch! Here's a video:
http://www.youtube.com/watch?v=ljcoASNL_p0
UPDATE: All of the iPhone apps are now on the iPod Touch! Here's a video:
http://www.youtube.com/watch?v=ljcoASNL_p0