Hacking the iPod Touch!

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Hey everyone, I have had my iPod Touch for a long time now, what bothers me is I see many people around me with the same thing, yet not hacked! To be honest, its a waste of money to buy one and not hack it! Yes there are some downsides to doing this, but talk about getting your moneys worth, it makes sense! Has anyone hacked their's? Do you think that this technology is becoming to easy to get more out of? Please post your opinions and comments! Best of Luck! Jack