No problem! A DS Lite is basically the DS, only a little smaller to better fit your hands, with a brighter backlit and slightly bigger screen. It's better all around. It also comes in different colors, which is fun. You're pretty much spot on about it being like newer ipods. It will also play previous-gen games from the Gameboy Advance, which can be fun, but there are plenty of great games specifically made for the DS.
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I will have to wait until my budget is a little better under control before I can afford one, but I definitely have it on my list now.