Is there any reason to hack a kindle touch? A quick look on google didn't turn up anything of much interest other than getting rid of the ads.
I'm late to reply, but better late than never, right?
There are some really neat things you can do with a hacked Kindle5 (Kindle Touch).
JBPatch allows you to modify how the Kindle software itself operates. I had hoped to use this to develop a "show current book cover as screensaver" app, but alas, I'm stuck with a Kindle4 (Non-Touch), which doesnt' support JBPatch.
There's also a
GUI Launcher available, to kick off apps and settings changes more easily.
Regarding the new kindles, I'm a bit sad that it isn't looking like there'll be a Color EInk kindle, but if they can deliver on higher resolution B&W eink (maybe with some more greyscale shades), then I'll upgrade from my K4. I haven't seen EInk put out any new B&W tech, I know they've been working on a next-gen color EInk (after Triton)... maybe they've just refined the B&W process.
The only solid EInk news in the past few months appears to have been their purchase of SiPix, which was a competitor tech to EInk, with very similar technology. You can read a breakdown of their implementation
here.