Wow... So, I bought an iPod touch in 2010 right before the iPad came out and before iPod touch started including built in camera and mic. But I was fine with it, I feel like I got my money's worth over the past few years. And I'm glad I waited to upgrade to something new, because the iPad mini is exactly what I wanted.
#1 iPad apps!
I can finally access all those pretty HD apps I've seen in the store next to my regular versions all these years. Some of them were nice enough to let me have the HD version for free for purchasing the iPod version, others I had to pay for, oh well.
#2 Bigger screen, but still portable!
I would feel like a huge nerd busting out an iPad at a bar or social gathering. The mini, on the other hand is big enough to be impressive and get people's attention without being awkward to quickly take out and out away. It's also big enough to comfortably play multiplayer games on the same screen without bumping heads or passing the device back and forth. Orbital, Fingle, Air Hockey, etc.
#3 Cellular connectivity!
Although it costs an arm and a leg here in Japan, I decided to use my new iPad to its full potential I would need to cellular version. Having something to do while waiting it Japan's ridiculous traffic has been nice. Keeping track of which tiny, unnamed side street I'm on while trying to find some small cafe was great too.
So yeah, I highly recommend the iPad mini, especially if you can fit it in your purse or bag that you carry around, or if you have particularly large pockets.