Well, the specs say "30-pin connector for charging, data transfer, and video out; 3.5-mm jack for audio" so I would expect that it supports this through the 30-pin Dock Connector port, although possibly not through the headphone jack like the 5G does.
Further, the description for the new Component AV cable indicates that "Component video output to television is supported by iPod nano (third generation) and iPod classic at 480p or 576p resolution, and by iPod touch at 480i or 576i resolution."