Now that the iPod touch 2.0 update is finally available on Apple's iTunes servers, we iTouch owners can join in on the App Store fun for $9.95 which is billed directly to our iTunes Store account.
The purchase transaction took as long as it does to purchase a song or video from the iTunes store. The download took about 6-8 minutes on my cable modem connection. The process to backup, prepare, reload, and verify the software on my iPod took a good 10-15 minutes or so.
Now that the 2.0 software is loaded, iTunes needs to reload all of my music, movies, pictures, and PIM data. There is no time estimate given, this looks like it is going to be the longest part of the upgrade process as I am using about 12GB of my 14.6GB on the iPod touch.
While my data is reloading, I'm off to the App Store!