The new iPod models were released at the end of this summer (couple of months ago)
Much of the iPhone 4's design (such as the processor, the high-quality display, etc) are now part of the new iPod Touch.
The new iPod touch will never use OS X, but uses the new iOS 4, which now provides multi-tasking. If your iPod Touch has not been updated yet to the current version - you can do that through your iTunes app on your computer.
What part of iPhone design are you missing on your iPod Touch? (other than the phone parts, of course)