They dropped the price by $200 on Wednesday for the holiday season. I definitely think it's worth it. I don't have one (sadly) but the plan is quite reasonable compared to the ones in Canada. My mom's boss' BlackBerry plan costs $2000 a month because of no unlimited data option, and that's why it will probably never come to Canada while Rogers doesn't offer an unlimited data plan that Apple requires for the iPhone.
It beats carrying an iPod and phone too. Since there's no chance of me getting an iPhone soon, I want the iPod touch so badly now!