Hi JoC,
If you have an iMac computer in your home, you can use Elgato EyeTV software to convert movies and TV shows to become iPhone or iPod touch streamable to your iPod---at least when in range of your WiFi system, and then watch them on your iPod in the WiFi zone. Those you need to see 'off shore' can be easily selected to download to the iPod touch via the iMac, and 16GB is about 16 full length movoes, or 15 movies and 250 songs ... Do you really want to store all your audio-video content on one piece of equipment?
See the Elgato info here: http://www.elgato.com/elgato/int/mainmenu/products/software/EyeTV/product1.en.html
Cheers and have a Happy New Year!