What would happen if I forgot to click on eject, before disconnecting ipod?

It's only completely safe to unplug an iPod without ejecting if it is a) set to sync automatically and the sync is complete and b) is "not" enabled for disk use. If you are managing your iPod manually then disk use is enabled by default and unplugging the iPod without properly ejecting it can cause it to become corrupted and unreadable just like any removable drive that is improperly removed: Safely Disconnect IPod

Ejecting is so old school. I just unplug it like I have been doing for years. No problems yet. I figure that the hardware shouldn't be affected even if there is a little data loss and if it is, it's crap and I will take it back.

I think the ejecting legend has become a remnant from old-school mac days that hangs around to keep you from unplugging while syncing. Shouldn't be a problem....at least from what I have experienced on Windows. I am not sure if Macs still require that ejecting stuff on external media...

I never eject it, i just pull it out and my iPod works perfectly fine!