http://chris.pirillo.com/iphone-4-vs-ipod-touch-video-camera-quality/
http://www.facebook.com/chrispirillo - This video won't make much sense unless you compare it directly against the second video (simultaneously recorded with my iPhone 4).
I would have to say that while the iPhone 4's lens produces a sharper video, the iPod touch's lens seems to have a wider field of view. It's a toss up, really - and I can't perceive any clear winner. In interview situations, a wider-angle view always trumps - but who doesn't like a clear-cut lines in their videos?
I wasn't able to establish clear macro shots due to the way I was holding each device (and I didn't want to skew results). It should also be noted that this video, as well as the other one, were uploaded without any amount of editing done beforehand.
What do you think? http://twitter.com/ChrisPirillo
