Hello,
The BR-2 remote will do the following:
toggle power
next track
previous track
toggle pause
toggle play
stop playback
An iPod touch is capable of doing all of these tasks above except toggle power. The iPod touch is also able to create playlists, choose songs directly from the playlist (rather then using next/previous track controls), scan forward/reverse through a track, create playlists, load playlists. It can do more but there are the things regarding playback that i can think of off the top of my head.
Cheers,
Chris