iPhone 3GS or iPod Touch 4?

I'm trying to decide whether I should buy a used 16 GB iPhone 3GS for $200 or a new 32GB iPod Touch 4 for $300. Any suggestions? The main reason I'm considering getting the iPod Touch 4 is because it has a faster CPU, better battery life, higher resolution display, and HD camera on the back. The 3GS, on the other hand, makes calls and takes much better pictures...

P.S. Please don't suggest the iPhone 4. :-)
In response to the 2nd comment, the title says iPod Touch 4, not iPhone 4...
 
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