I personally own a 4GB Ipod and i love it. Although the ear-phones that comes with the Ipod really s*cks big time for a Headbanger like me. I had to purchase some Sony instead and still there i can't manage to tweak the hell out of my Ipod to get a decent trashing sound... I mean with the "supposed" equilizer. Oh and the price was high even thought i purchased it on the boxing day. And having to pay so much $$$ for extras such as a charger that you can plug directly in your wall, a holster s**ked too.
Yeah, the Nanos come with more bells & whistles (and the rotating controls are really cool.... ), but I doubt I'd use those extras, and I can think of better things to do with the extra $70.
(Plus the fact that loading music on a Nano requires Itunes to be installed along with quicktime, and quicktime rates right up there with realmedia in my books.... ).
I'm not sure any form of earbuds (I have the wrap-around sonys) do justice to "wall of sound" music. I'm thinking that a proper set of light headphones would be required for any music which tends to over saturate the spectrum.
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