I wouldn't be surprised if apple came out with an itouch 5 before the holiday season, and there has been talk about an iphone 5. Should I hang on and wait to see what happens or just go for the 4th gen touch?
In addition to the rumours above, the iPod Touch is said to have 3g connectivity, like the iPad. Trust me, I regret buying a 4g iPod recently after hearing this.....Refer to the link below for more info on other rumoured features.
The iPod touch 5G is rumored to have a white option and a few minor upgrades and of course the price will be big as any new Apple product on the market is. Personally I would get the iPod Touch 4th generation, it has amazing reviews and I will personally tell you that it is amazing. Get an iPod Touch 4G now before the 5th is released and people are racing for the 4G's pricedrop.
Get a psvita it is portable has graphics just like ps3 has more memory better games great apps and to cameras a touch screen 3G (built in Internet) you can download movies music videos and so much more it does everything the iPod touch 4g does and more