The Touch Mod crew has released their VoIP solution on time, as promised.
Using an application originally created for VoIP on the Nintendo DS gaming system, the application requires an external mic and a "jailbroken" iPod touch.
Happy chatting iPod touch owners.
Links:
[1] http://touchmods.wordpress.com/
[2] http://www.maclife.com/article/talk_on_the_ipod_touch