In general streaming and video on the Touch is a bust. The Touch doesn't recognize Real Player or Windows Media file formats, nor does it understand Flash. All of this means that the iPod can't easily play the huge majority of online video and audio recordings. 

But the Touch isn't utterly clueless about streaming online goodies. It can play some Quicktime movies, like movie trailers, as long they've been encoded (prepared) in certain formats(like H.624). It can also play MP3 and WAV audio files right off the Web. Here are a few sites to sample:

•  BBC  News. The Beeb's podcasts  stream nicely and you can search shows by radio station, genre, or get an A to Zed list.http:www.bbc.co.uk/podcasts/  
•   New York Times podcasts. A whole page of different news shows that start streaming when you tap the MP3 link .
www.nytimes.com/podcasts 
• "Meet the Press" audio stream.An MP3 edition of the venerable Sunday-morning talk show can be found here: http://podcast.msnbc.com/audio/podcast/MSNBC-MTO.xml

Actually, any old MP3 file plays fine right in Safari. If you've already played through your 8, 32, or 64 gigabytes of music synced from your computer, you can always do a Web search for free mp3 music.

As for video, you have more to watch on the web than just Touch- friendly streaming videos you can tap into
back at Home,YouTube. Apple, in addition to making iPods and Macs, hosts a huge collection of movie trailers on its site at www.apple/trailers.Tap a movie poster to get started.