GTA Chinatown Wars (lengthly story mode + free roam) NOVA (beautiful graphics/great story + online multiplayer) NFS Shift (Nice cars/customization options... graphics are nice) Doodle Jump (incredibly addicting) Tetris (fun game with a new "magic" mode) Minigore (Fun two stick shooter) Street Fighter IV (great controls + best fighter on the iPhone) Any of the games above are great. In my opinion, anyone that gets an iPod touch should buy those games.
Best "bang for your buck" game for a dollar is this: All-in-1 Gamebox While not every game in this collection is particularly great, there's still some good stuff to be found here... and they're constantly adding new games to the collection with each update. For a dollar, it just keeps on giving.