+1 on the iPod Touch plus cell phone.
Really, an iPhone is your best bet, since it combines all of the functions you need.
However, my Touch does everything (book reader, note taker, movie watcher, audio-book listener, classical music/ opera enthusiast, especially when climbing that last mountain of the day or falling asleep,, etc.), except for the phone function. I throw the phone, turned off, in the bottom of my BP for emergencies -- and to assure my family occasionally and briefly that I have not fallen to my death ;-) ).
I have a Kindle, too, but its function is fulfilled completely by the Touch, especially if you're trying to save weight. The only reason I don't get an iPhone and chuck the rest of this stuff is that I'm stuck with this danged Verizon contract for another cursed year.
BTW, I also have a very light universal charger for iPhone/ iPod that works from normal wall current, USB port, and (most importantly) plugged-in 9-volt battery. Can't remember who makes it, but I carry a couple of batteries with me, and I can usually buy them along the way, as well. Very slick. For a few oz. carry weight, you can rest assured that you'll always be able to read/listen to your iPod/ iPhone.
Stargazer (a guy who needs a little literature on the trail to fall asleep)