Jail breaking does allow you to get more out of your device. Most mobile carriers charge an expensive monthly fee to use your phone as a mobile hotspot ( internet on computers etc). If u jail break then u can download a cydia app that has a one time fee of $20. The app will turn your iPhone into a mobile hotspot that will run up to five devices with no monthly charge. This is what sold me on it. I used the greenpoison jail break and I've had no problems.
Jailbreaking your apple device means getting apps Apple doesn't want you to have for free. When you jailbreak your device it is no longer a product of Apple. Jailbreaking may mean you will have to downgrade your device. Many people recommend not to jailbreak because it could permanently damage your device. While on the other hand people recommend to so you can get the free apps not sponsored by Apple. As for my opinion, I wouldn't jailbreak my device.
Im pretty sure it means they modified it to be compatible with other networks and companies, like virgin or boost, etc. Its worth it if you can do it yourself, but i wouldn't pay to have it done, especially since a new phone comes out like every two months and soon that phone will be old news.
Well, jailbreak means that you can "buy" apps for free. It means that you steal the music and apps from apple. It is illegal and of your iPod is corrupted you'll have to pay more for screwing around with the insides
First of all, only answer if you actually have done it... Anyway, I have to 2 of my iPod touches, and let me say that it is an insane boost to the functionality of my iPod. When you jailbreak your iPod, it allows you to install applications that are created by third-party app-makers such as BigBoss and Modmyi. Many of these are cool things that apple should have created into their devices, such as quick toggles of wi-fi or airplane, brightness and what not into a GUI menu that you can bring down by swiping the status bar. This one is called "SBSettings". You can also theme your icons and lock screen with winterboard and themes for it. You asked "Is it good or bad". Well, is cutting your arm off with a chainsaw bad? Yes it is, but if you use the chainsaw the way it is supposed to be used, then it is a great tool for cutting down trees. Same concept here. If you don't abuse it by getting free apps (illegal...) and stuff, and just use the functionality boosting tools in Cydia, then it's better than good! People say they jailbroke it because it makes them think they're better than everyone else. Don't be one of those idiots who think they're sooo cool because they downloaded a program and clicked a few things... I would recommend jailbreaking it if you would like to increase the abilities of your iPod and make it much more useful in your hands.