It looks nothing like a Chinese 'knockoff'. It is a pretty crazy design though. The nano did not need to be any smaller, I much prefer the previous version (nice screen, clickwheel, camera, 'comfy' size). The old nano fits very well into a pocket. The only reason they seem to have for making it smaller is so we can use the clip.
The iPod touch doesn't need cameras. Retina display, A4 and gyro are all that's needed. Lack of cameras would lower the price a tad, too.
I won't be upgrading from my 3rd gen touch. I'll wait a year .
Edit: Chris Martin was pretty good though. He was the highlight.