As mentioned in the description, the camera's lack of resolution is to put it mildly, a drag.
But using something like LookTel money reader gives me hope. I am amazed at how quickly and easily this works when compared to Noogle Noggles, oMoby, and even EyeNote. It's fast and accurate.
I haven't found any OCR that even gets close, unless all I want to know is if it's a bill or a credit card come on. It takes a whole lot of inference to get anything useful. However, i read lots of people with iPhones complaining about things like ZoomReader, SayText, and I don't feel quite as bad.
I love Digit-Eyes, but it only works at home, unless of course the local store has WiFi. And I was talking to the developer the other day and she said that Apple made changes in iOS 4.2 that reduced the Touch's accuracy and ability to read bar codes. They are working on it, and hopefully it will be back to at least as good as it was with the next release of iOS.
Until then,there's always VizWiz. I've had great success with that.