iPod jailbreaking

It's no longer illegal in the US either, but i suggest you only jail break if you have intentions alternate to using winterboard, or piracy. Some sources say winterboard slows down your ipod, since the iPod should only be running low-level daemons in the background.
not everyone supports this theory, but they all agree that once the jailbreak is gone your iPod will revert back to normal.
also pirating games that are only $1 is a bit low don't you think? especially since thats how developers make their livings.

jailbreaking isn't bad itself, but certain apps are.

My iPhone 4 has been jailbroken for months. It all depends on whether you are an idiot and somehow screw it up or if you can follow a tutorial video :).

I jailbroke my ipod touch 4th gen a few months ago and have had nothing go wrong. I used Green Posi0n and it worked the first time.