Yes you can edit all those thing directly from the iPod itself. It doesn't have the built in speakers though. You can't really do much else with it - there are webapps that you can get from apple, mainly simple games - but they don't come with the iPod. Of course you can listen to music on it and view pictures and videos. It does have a youtube bit programmed in... think that's about it.

yes you can edit all those things from the ipod( handy i couldnt on my ipod chromatic) if you have ( or are getting the ipod touch 2ND gen then yes, you will have built in speakers nice for showing friends you tube videos or playing apps with speaker turned on. the touch 2nd gen also has a rocker switch that dirrectly controls the speaker or headphone volume:) as you asked earlier you can add notes calender and contacts straight from the touch. you can get a ton of games from the built in app store. some are free and some can cost up to thirty dollars! you can also check the weather search your location on maps, search places and directions in ,maps, check stocks have a alarm clock world clock stopwatch and timer.it also comes with a calculator!!!! and these are just the features it comes in from the box. not to mention watch and download pocasts.. sample and buy music... all in itunes!!! so as you can see, even straight fom the box, the ipod touch 2nd gen has a lot of features.!!!!! i actually own the ipod touch 2nd generation 8gig and i have had it for almost a half a year!hope this helps and if you are getting the touch, its a great product by apple!!!