ipod touch vs iphone

I love all the applications & extras on the iphone but I don't want/need the phone part!!
I have been told that the Ipod touch has everything that the iphone has, except the phone. Firstly is this true?
Some of the apps I like on the iphone ie: sat nav, endometre (tracks you while walking/running) I think need the mobile network, so I'm wondering if the ipod touch can be linked to my mobile phone, using the bluetooth on both, in order for me to effectively use these apps on the ipod?

Quick answer yes. But it is not easy and only certain models of phones would do it and they are all smartphones and would need a data plan. Google it and you will find out how it is complicated.

The iPod would need 3g to run any of those apps outside wifi areas. If you have an actual phone already why aren't you getting an iPhone?

Thanks for that - my reason to keep them separate is I have a company blackberry and I can't access the apps on this as it is restricted by the company and I do not want to get a second phone but want the extras of the phone!!
Also just a question on GPS type apps - is the position of the phone automatically linked to the main server in a company or just to the phone?

I'm also fairly sure that the iPod Touch doesn't have a flash on the camera like the iPhone 4.

The led flash is also handy for using as a torch with the correct app.

Stick with your Blackberry and get an Itouch for surfing the web, does everything you want, who would want to take photos on and Ipod anyway flash or not, the quality would be that of a digital camera a the basement end and only for fun more than anything.
You can download all the apps etc, I have had mine about a year and a half and find it a great gadget for checking news etc in the morning.
Wifi only remember, cannot be tethered via bluetooth.
Same as yourself have work phone so would be pointless getting an Iphone with the insane price tag and monthly bills on top.
You can get a Nike attachment for the walking an running tracking distance etc..