Braving the lines, even first thing in the morning on a Tuesday, I picked up a 16GB unit. Many of the features are similar to the iPhone except for the phone capabilities and integrated camera.
On a positive note, you do not need any kind of calling or wireless plan to utilize the iTouch. The downside to not having a plan is that you only receive an internet connection if you can pick up an unsecured wireless network.
Much like the iPhone, 3Dwalkthroughs.com views the iTouch as a valuable tool to demonstrate our products. I have already loaded a whole bunch of 3D Walkthroughs, 3D Renderings and 3D Floor Plans onto my iTouch. It will be very convenient to pull out an iTouch during an imprompteau meeting and effectively show our products. I am sure we will experience more cool features over the weeks to come. In the meantime, the iTouch makes for a great mobile business card.