iPhone or iTouch

Is it like Coke vs Pepsi?  Or is it like the chicken or the egg?  Or does it matter?  To my left there's a grown man fiddling with his iPhone and to my other left there's a teenage xy chromosonoid (good word) fooling around on his iTouch.  They both appear to be having the same amount of fun, and I feel as though I am witnessing the generation gap closure.  Dude, that's way cool.  Or should I say "f" an a?

Ciao Y'all!