Apple iPod Touch 2011 (8GB, black)

Pros: Everything you know and love about the touch, minus the durability.

Cons: Not durable... at all.
Poor camera quality.

Summary: Do not assume that this ipod lives up to previous experiences with apple ipod touches or phones when it comes to durability. It is crucial to buy a case for this device, even though none are currently offered. My ipod touch dropped 18 inches on to tile after I sat down in a chair causing the corner to be significantly skewed and pull away from the screen. Until cases become available do not buy this device or only use it in a padded room.
Unless the new features (mainly facetime as the front facing camera is no good) are a must for you and you can wait until cases become available, just stick with the 3rd generation of this device.