My iPod wont update, Network connection timed out
The same happens when i try to restore,
I think im on 4.2.1 so i really need to update to atleast iOS 5
iPod touch
Try temporarily disabling your computer's security/firewall/antivirus software before proceeding with the update.
Otherwise, see here for more advanced troubleshooting.
iTunes: Advanced iTunes Store troubleshooting
B-rock
My iPod wont update, Network connection timed out