Both. I love 'em both exactly the same.
But if I had to choose, probably iTouch. I hardly text anyways, and most of my friends have a computer and can easily access the internet. If iTouch has internet, than iTouch fer sureeee.
Still, don't get me wrong. I love iPhones, and I think they're awesome. I mean, if you were stuck without a phone, an iPhone would help, hahaha.