You can deactivate entire apps or block explicit material on the iPod Touch. So it's an all or nothing proposition. Use the SETTINGS GENERAL RESTRICTIONS type in a PIN for example: 1234 and drag EXPLICIT to OFF, SAFARI to OFF, INSTALLING to OFF. Press the button at the bottom to finish. This way everything that goes in (except YouTube) is controlled by iTunes on your PC.
To control web browsing, it's $4.99 minimum.
Mobicip.com - Parental Control For iPhone & iPod Touch (Safari only)
To control musical content, everything is managed through iTunes on the PC preferences. A cool idea until you realize any PC can control an iPod Touch.
Set Your iPod Preferences (iTunes only)
Good luck out there.
