I think my iPod touch is running at 532 MHz. Both my n810 and my n800 multi-task just fine at 400 MHz with a very, very similar CPU and a much heavier OS, and Apple doesn't consider the iPod touch 2G psuedo multi-tasking worthy? They are truly software pussies.
They're maemo and MeeGo... "Meamo!" sounds like what Zorro would say to catherine zeta jones... after she slaps him for looking at her dirtily...