No.
Connect your iTouch to your computer and click "Restore iPod" and it will erase everything on your iTouch.
To erase pics from an iPod touch all you have to do I'd erase them from the directory on the computer from which you uploaded them to your iPod and they will be erased from the iPod at next sync.
No, it depends whether you reset the network settings, etc, or you can just restore it and reset EVERYTHING.
restore it on itunes
it depends on the strength of the electromagnet. if you have a case with a magnet, that doesn't have enough strength to erase it, though other magnets should be kept away from your ipod. however, even if you accidentally erase your touch, you can still re-sync your songs to your ipod touch via a computer for free.
smash it with a hammer
To 'unjailbreak' an iPod Touch, you have to do a system restore, which is available in the iPod Touch home menu in iTunes. This will erase all content that is on the iPod Touch, including bookmarks in Safari and contacts in the Contacts.
It depends on what type of restoration you are preforming on your iPod touch. It you are resetting the network then yes all your tabs and bookmarks get erased. If you are resetting settings to factory default then no your bookmarks will not be erased. If you are restoring your whole iPod completely then yes everything on your ipod will be erased.
restore your ipod touch on itunes
swipe to left press delete
no!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! you can not that would probably erase all data on both devices !!!!!!!!!!!!!!!