Apple didn't exactly shock the world today with the announcement of its new iPod Touch, but the gadget-loving faithful weren't disappointed, either. With trademark grandeur, Apple guru Steve Jobs announced a revamped line of the absurdly popular music players.

The new iPod touch will take advantage of the touch-screen technology developed for the iPhone, and users will be able to connect to the Internet at a WiFi hotspot, too. It's basically an iPhone without the phone part. Other upgrades include a standard iPod with double the memory, and iPod nanos with 2-inch screens. And for those of you who decided to shell out the cash for an iPhone in the last few weeks, sorry to break this to you, but Apple's slashing the price. The cost of an 8GB model is dropping from $599 to $399.—Gregory Mone