I will be traveling a lot from now on and have finally found the need for a Portable Video Player. So what do you guys suggest I pick up?

My requirements are basically to watch movies/videos and listen to music as I sit idly in the bus, and the device doubling up as a storage device for me to move around data if required.

I am looking at the usual suspects (Apple :P ) and the iPod Touch looks very inviting compared to the iPod Video Classic especially the screen size and the interface. Then again the classic has a larger capacity and probably uses its battery much more efficiently.

Do suggest what specs I should look into before part with my Moolah :P