The "new" ipod touch isn't an upgrade, they are offering a new casing color (white), but internally speaking it's the same as the current ipod touch and both will be able to update to the new iOS when it's released.
As far as the iphone 4s, I think it's kind of a wasted upgrade, I will for sure be waiting for the iphone 5 which rumors speculate will be coming in the spring of 2012 (these are just rumors, so take them for what they are).
I think a lot of die-hard apple fans were thinking the 4s was about all that was coming, but hoping that apple would step-up with a redesigned iphone 5 (which obviously didn't happen). Since my iphone works perfectly well and I don't see anything in the 4s that I can't live without, I'm gonna hold off for the next release hoping it'll be a completely redesigned phone with stepped-up features.