in my honest opinion no! There really is no point in them what so ever, i cant imagine some one walking down the streeet viewing one. They may be practical for long journys, but a si dont travel far there is no point
If you've already got an iPod or iPod photo, then no.
But if you don't own either, and this is your first foray into the world of mp3 players, then personally, I don't think you can do much better than the new iPod video.
As an mp3 player, it's great, but as a video player, it's a bit lacking, in that it plays a relatively small range of formats, and the battery life isn't particularly long when watching videos.
as bobjim says.. its not just a video player. its the old iPod, that displays pictures and plays music, _and_ a video player.
if you want it as a video player, don't get it. go for something more suitable for playing video. but if you want a great music player, that also happens to play video, go for it!