It means you free your iPod Touch from the restrictions and boundaries that Apple has put in place to prevent the installing of 3rd party packages and applications that are not hosted on the Apple App Store. In other words it allows you to get paid or free packages that are hosted on typically Cydia (TM) or Rock [Your Phone] (TM) that may not necessarily be present on the Apple App Store. This process has been an invaluable for users such as myself at getting certain utilities and "tweaks" for the iPod Touch that are yet to be released by Apple.
Jailbreaking iPhones can also be invaluable in the sense that it provides the potential to "unlock" the device meaning that other mobile carriers aside from AT&T can be used on it such as T-Mobile**
**Only mobile carriers on the same radio frequency as that of AT&T and T-Mobile will work; thus, this means that it is impossible to unlock the iPhone for Verizon and other such carriers at this time in the United States.
jailbreaking the ipod touch is legal. But if you use the tool that gives you all apps free it is illegal.
It is impossible to get an installer on an iPod Touch without jailbreaking.
Yes; not jailbreaking it. If you mean a way to do the same thing as jailbreaking without actually doing so, there is no current way to do so.
It is up to you. No matter what you have on your ipod will become messed up when Jailbreaking...
You cannot get all apps for free without jailbreaking an iPod Touch. It is not possible.
no
you cant
No.
Yes, jailbreaking does void the warranty.
As of today (November 24th, 2010), jailbreaking an iPod Touch is not illegal. Is it 100% safe? No.
No, not without jailbreaking your iPod 2g.
no, but i woudnt try it