iPod Touch iOS4 update problems

A little over a month ago I finally joined the millions of iPod owners by purchasing a 64GB iPod Touch. Between then and now I busied myself in ripping scores of my CDs onto my Mac Mini and thence synching that to the iPod.

Today when I connected the iPod up, iTunes asked me if I would like to install iOS4. OK I thought, why not?

Simple answer: because it might trash the whole thing and waste my evening.