I wouldn't try to use the iPod for chords, other than a quick skim or refresher before playing the tune. I don't have an iPad yet, but the iRealBook app is giving me good reason to shell out the bucks. As I said before, I'd be happy using the Touch as a player and use the iPad as a pdf reader if needed, for tunes I don't know.
It's still quite a small price considering we've paid out for laptops, and other hardware to do gigs in the past. Of course the iPod or phone will play all your other tracks too.
I've looked at pdf readers on IOS, but until I get an iPad, I can't offer an opinion.
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