Headphone jack was just about dead and I didn't want to spend hundreds of dollars to replace iTouch. Nearest place that does repairs is over 300 miles away. Give it a shot I say.
Everything went perfectly except for the part where I removed the EMI shield. Like many others the ribbon cable to the volume control broke. Solder work is where I draw the line, with four solder points this one goes to the shop.
I think that had I pried the EMI shield from the camera end toward the home button the glue would not have caused the ribbon cable to break. The force would have followed the direction of the cable and the cables limited strength would have been reinforced.