So, to try to sum it up then.....

iPod Touch:

Pros:
- Faster
- Very active support from major app developers
- Great looking, and playing, games
- Easy-to-achieve full MS document compatibility
- Outlook compatible
- Faster internet browsing
- Developed applications are generally very stable

Cons:
- Has to be jailbroken to get close to being 'open'
- No Physical keyboard
- No multi-tasking
- No option for expanding memory

NIT:

Pros:
- Open environment that is both 'tinker friendly' as well as lends itself very well as a professional IT tool.
- Physical keyboard (N810),
- Multi-tasking
- Lower price
- "It's not an iDevice" - less feeling of being like everyone else.
- Supports memory cards


Cons:
- Loosing support/updates for major apps like Skype, Gizmo, Rhapsody, etc
- A lot of people willing to develop applications for free - but as such they also have a tendency to not ever become 'complete' / 'stable' - and long-term support/updates/continuity is questionable
- Fewer, and less advanced/attractive, games
- Slower internet browsing
- Requires quite the obstacle course to get close to being MS document compatible
- No MS Outlook sync ability (correct me if I'm wrong on this one)