So what are the rumors? I'm guessing, that they might improve the camera. The current one produces grainy pictures, and they aren't as focused as the pictures the iPhone takes. There are also rumors that the screen will become bigger whereas the iPod Touch 4G's screen became smaller. One of the biggest rumors is that they'll either remove the Home button, or modify it by making it touch sensitive. Personally, I don't think that the touch sensitive will work that will because if you're playing a game, your finger may accidentally slide over it. I think they should keep the original push home button. I'm hoping that they will improve the speakers and make it louder than before. It's good if you're in a quiet environment, but if you're at a party or something, then there would be background noise. Then a louder speaker would be nice.
So those are the main rumors that we've indicated. There have been some supposedly leaked pictures, but personally I think they are fake. They don't look real, and if those are the only improvements, I'm disappointed.
I will try to buy the new iPod, because I love the iPods and they are great. I'll be waiting.