There is a new iPod touch coming.
Initially there was no evidence found about a new iPod touch in the iOS 5 beta that Apple released to developers. We reported that references to two future iPhones and two iPads have been spotted in the iOS 5 beta release. Apple Insider reports that now a string indicating a future iPod touch has been found. The iPod 4,2 code hints to an evolutionary update of the iPod touch.
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It is very likely that Apple just updates the CPU and the camera in a 2011 iPod touch release.
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There was already discussion if Apple would kill the iPod touch. Now we know that there is a new one coming.