After many attempts I finely got iOS 5 installed on my iPod touch 3rd generation. I must say I am quite impressed with the OS update. One of the features I am glad the OS has is Wi-Fi syncing, which is defiantly needed as sometimes when you need to sync your device and do not have the sync cable handy.
Another feature that I happen to like is the notification center which may be a copy from the Android OS but whatever. It does help with notifications from apps because you no longer will get interrupted for example while playing a game.
The new features such as reminders and newsstand will come in handy for me, as I have been making use of those features already within the first few days of installing iOS 5. I also like the idea of iCloud as it will help get all your content from your old iOS device to your new one very easily. As your all your content is kept in the cloud as a backup.
I also like the idea of Twitter integration as this enables you to share images, websites etc, without opening a twitter application. Those are just a few things that I like about iOS 5. Oh and another thing that I like is software updates on the device which will be handy as it will only the updates that are needed and not a whole 600 mb file for example.