Yes.
Connect your iPod touch to your computer. Go to iTunes and click on your iPod touch, then click Update.
You do not pay to update your iPod Touch unless the software update is to 3.0 or 3.1.
You can update your iPod without selling it! First go to iTunes and plug in your iPod. Then go to your iPod summary and click "update".
No.
No the touch has its own updates. =]
When you plug your ipod in to your PC or Mac, open itunes and if there is a update for the ipod it should tell and ask you whether to update and install.
When you plug in your iPod to your computer or laptop with the connector provided when you purchase the iPod. It should prompt you that there is a newer version available for your iPod, before you update it make sure you back everything up becuase it will restore your iPod and you wil lose everything but if you back it up you can sync it all back on to your iPod.
iTunes
no only on the ipod touch 5th gen
no, to get a newer jailbreak you have to restore the ipod touch and then update the ipod touch and then download the jailbreak. that is a huge con for jailbreaking.
When your iPod touch is connected to your computer iTunes should pick up whether there are any updates for your ipod.
plugging the ipod to your computer and open itunes, it should prompt you about the update