Why would you guys think that you would have an iPod touch AND and an iPhone?? This is actually good news as my kids have an iPod touch (they are 5 and 8). They can watch their movies, play games, etc. I have a pretty elaborate setup at my house with media servers, etc. and would love for them to be able to stream movies to their iPods through 3G. We take lots of trips and we enjoy driving so this would be perfect. Now I have to use my MiFi device in the car to connect their iPods and 2 streaming doesn't work so well. I would much rather pay for their own data plan and enable it as needed when we travel. If you don't know how the iPad plans work, it is not a contract and you can turn the 3G data on and off as needed.
On another thought; why all the hate towards this? Just because you either can't afford it or don't want to spend money on it, why do people like to hate so much. If you have a smartphone and don't need an iPod touch and can't imagine how YOU would use it, what logic are you using to come to the conclusion that this is a horrible idea?