Beside the mobile phone function, the iPod Touch is almost and iPhone. However, Apple decided to not allow installation of communication-dedicated application (via Wi-Fi). Does not matter, Hacktheipodtouch explains how to recover applications from the iPhone and to install them on the iPod Touch. If SIM unlocking is not illegal, recovering applications to install in another device where they are not "supposed" to be is not legal, so that's why this website provides explanation, without providing applications to be downloaded.
The iPhone has been recently reviewd by iLounge, and the conclusion is "so-so" (http://www.ilounge.com/index.php/ipod/review/apple-ipod-touch-8gb-16gb/P0).
[translation by Linathael]