i have an iphone and i was hopeing this would come out but so far i am not willing to re jailbrak my phone just too important. there is a version for ds which i hope to get in the near future.
yeah its next to imposible to jailbreak a second gen touch!!! but the iphone dev team is going to be releaseing a jailbreak tool at http://redsn0w.com/ its not out yet but keep checking!!!
the 7.5.3 OS is avialble for free here http://support.apple.com/kb/TA48312?viewlocale=en_US its in 19 parts
that create one install image. look for these files 01 t 19 Macintosh/System/Older_System/System_7.5_Version_7.5.3/System_7.5.3_01of19.smi.bin I used Basillisk II to setup a 512MB blank disk image and installed 7.5.3 on this before transfering the disk image to my ipod. You could transfer your disk image from your Ipod and use Basillisk II to boot into it and the upgrade it to 7.5.3 and then transfer the disk image back to your Ipod.