the camera was not put in the Touch because of
A: production problems, they had issues with some chips
B: as Steve Jobs has said in interviews, they want the touch to be more of a "gaming" portable, or something.
either or both could be true, but in general, the newest release of any technology has more features than the last. its not worth bitching about everytime.
I have a 2nd gen 32gb. The 2nd gen (or 3rd, only difference is slight processor speed (i think... its something insignificant)) is far superior to the 1st gen. it is a sleeker design, has a bigger, brighter screen, and volume buttons (extremely useful). If a camera is all they add at the event in Feb (which i have not read up on at all yet), id say wait until january and pick up a 3rd gen from the Apple store when they start having amazing sales to clear out for the new models.