Apple’s new iPod touch  has been broken down, and while Apple certainly has beefed it up, some things found in the iPhone 4 have been cut. The cameras are of lower quality, still no GPS is to be found, and only 256MB of RAM lies under the case. Read on for the juicy details.

I can understand why Apple decided to keep GPS yet again out of the iPod touch. GPS consumes battery life and Apple needs to keep some level of differentiation between the iPod touch and the iPhone. However, that doesn’t mean I am not disappointed. The iPod touch has the potential to be an amazing standalone GPS unit if only Apple would not be so stingy.

As for the cameras in the new iPod touch , I am also a little disappointed. While new iPod can take 720p HD video like the iPhone 4, its still camera is limited to less than a megapixel. Both the front facing and rear facing video cameras (yes, it has FaceTime) also lack automatic focusing features so your pictures will not look as good as they would on a standalone camera or the new iPhone. I guess Apple has to cut costs somewhere since the iPhone 4 costs quite a bit more to manufacture than Apple is willing to spend on the Touch. There is also speculation that the iPhone 4′s camera will not fit into the super thin case of its sister device.

The Apple iPad only has 256MB of RAM, as does the iPhone 3GS. 512MB of RAM would have been nice for the iPod touch 4, but Apple does have to keep its iPhone models a step ahead. No word yet on exactly how the new Apple A4 processor clocks in, but I would expect speeds on par with the iPhone 4, as the iPad actually clocks in faster than the iPhone 4. Apple reduced the speed of the iPhone 4′s processor for heat considerations. Then again, with such a thin case, the iPod touch  might have some heat issues. Or maybe Apple’s decision to keep the shiny metal case on the back that smudges up is part of its design to keep the iPod touch from getting too hot. You never know with Apple, or how it might try to spin ‘flaws.’

While the new iPod touch does get the Retina Display of the iPhone 4, it lacks IPS technology that makes the screen easier to read from different angles. It also has a lower quality speaker than the iPhone 4, but hey, you don’t buy an iPod to listen to via its speakers. That’s what headphones are for.

Overall, it looks like the iPhone 4 is still the best bet for all the high end goodies Apple always puts in its new iPhones. You didn’t really think you could pick up an iPhone 4 without the cellular radio for a shade of two hundred dollars did you? Then again, the iPod touch has a special spot in Apple’s line up. It will game, it will surf and it will do pretty much everything your iPhone 4 will do. But it still cannot GPS locate you and lacks the photo features the iPhone has. It is a lovely upgrade, but just keep in mind that you’re still not buying an iPhone.

Let me know what you think about the new iPod touch and if its a better deal than going with the iPhone 4 for what you need.