I am wondering what I can use the bluetooth capability in the iPod touch fourth generation for? I tried to pair it to a Motorola headset, but I was not able to pair it.
Jailbreaking is not an option for me. :)
The iPod touch 4th gen should allow you to do the following:
With A2DP: This profile defines how high quality audio (stereo or mono) can be streamed from one device to another over a Bluetooth connection. For example, music can be streamed from a mobile phone, to a wireless headset, hearing aid & cochlear implant streamer, or car audio or from a laptop/desktop to a wireless headset.
With AVRCP: This profile is designed to provide a standard interface to control TVs, Hi-fi equipment, etc. to allow a single remote control (or other device) to control all of the A/V equipment to which a user has access. It may be used in concert with A2DP or VDP.
With PAN: This profile is intended to allow the use of Bluetooth Network Encapsulation Protocol on Layer 3 protocols for transport over a Bluetooth link.
With HID: Provides support for devices such as mice, joysticks, keyboards, as well as sometimes providing support for simple buttons and indicators on other types of devices. It is designed to provide a low latency link, with low power requirements. PlayStation 3 controllers and Wii Remotes also use Bluetooth HID.
If you are having problems pairing, try out iPhone and iPod touch: Third-party headsets, headphones, and car kits
Reading your responses to the other comments, I realize another potential problem for you. Skype on mobile devices don't support bluetooth devices. I'm sorry to be the one to let you know. It isn't due to the iPod touch or Apple but it's an unsupported feature from Skype. Here is the link that shows the list of supported and unsupported features for Skype mobile.