A couple of months ago I nabbed myself a 30GB ipod photo (as in an ipod that displays photos, not...like...a picture of an ipod. this has come up before) and I find it very very convenient to carry my obligatory pics from home (loads of them) and loads and loads and loads of travel tunes. Keep in mind that it does not take photos, just stores them. I've got craploads of travel info in my 'notes' folder and my postcard address list and emergency contact numbers in my 'contacts' folder. If you have the patience you can type up some foreign language survival phrases and store them on it too. i've got to-do lists and foreign language learning audiobooks (these you can download from the net or snatch from the library-great for plane rides). If you don't have an ipod already, put it on your birthday/graduation wishlist. I save sooo much space not having to carry CD's, batteries (it has a built-in rechargable battery), address books, photographs, an alarm clock (kind of weak, but still), and I like to use the light to open up my locker in the dark.
I recommend copying and pasting the tips and things you get from the message boards to keep close to your heart at all times.
Guard it with your life. Get a colored skin for it and ditch the white headphones--dead giveaways to pickpockets. Try bizrate.com if you want to compare prices.