Yeah. The GUI is very cool on music too, and it has good sound. Video is very crisp and sharp and therefor really enjoyable. You can listen to music while chatting on MSN and browsing/doing all other things, it is like a PDA imo. It's very fast and powerful. 600mhz (locked to 400mhz by apple to save battery time) and 128mb ram.
This is the first apple product that I own. I really don't like all the other ipod's. But iPod Touch is just something special. Great software and hardware.