iPod: how I love thee

So I have decided that I want an iPod. I mean, I am super addicted to music, and what better way to soundtrack my life? But it is still rather expensive ($299 for the 20GB), and do I really have time to commit to transferring all of my life, I mean music, onto that thing? I need some input: do I buy now and take the financial hit or do I wait and possibly decide that I have a few too many gadgets in my life?