is it fair to trade an itouch 4g 64gb for an iPhone 3G 8gb?

NO WAY!...that iphone 4g is as old as dirt, can barely run iOS 4 and poorly too. It is not supported by iOS 5.
Plus 8GB is not the SPACE AVAILABLE ON THE DEVICE..that's just over 6GB cuz the operating system etc that the device needs to function takes up that space.

That ipod touch is the better deal.
 
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