This may be a question for IPhone users, but how easy is it to rate and see song ratings on the IPhone?

I don't see the ratings in any of the screen shots. I heavily utilize ratings to manage my smart playlists and whenever a track plays I try to check and/or adjust the rating. I hope this is fairly easy and not through a menu on the Touch.

The way the iPhone presently works in this regard is to double-tap the artwork cover on-screen, and it will visually flip around to reveal a list of the other tracks on that album, with the rating for the current track shown at the top of the screen, and can be adjusted simply by tapping on it.

Whether the iPod touch will also work this way, and/or whether this may change with a firmware update is not really known at this point. Note that iTunes 7.4 also adds "Album Ratings" now, so these may need to be accounted for somewhere on the device.