A new paid application called iRemix has been released onto Cydia which adds lots of new features to the iPod.app on the iPhone and iPod Touch. The features include Lyric searching, Favorites, Song Info and Bookmarks.
Favorites:
Your favorite songs, artists, albums and playlists are now one touch away. No more endless scrolling and searching. Instantly access them in all their cover art glory. Create up to 5 pages of your favorites and scroll through them springboard style. We have also made adding items to favorites drop dead easy. Simply touch and hold the media item till the pop up asks you to add it to favorites.
Bookmarks:
There are many cases where you just love a specific part of a song or podcast and always want instant access to it. Sometimes you always want to start a song at a specific point. You can now do this with Bookmarks, saving you from always rewinding and fast forwading.
Quick Add and Search:
Right now, adding to the “On-The-Go” playlist is clumsy and time consuming. We have solved this by allowing you to simply touch the media item till the “Add to On-The-Go” pops up for you to immediately add it. In addition, you can now access search faster by simply touching the top bar on any of the iPod screens.
Song Info:
Get all the info you have always wanted to know about the song and artist. Utlizing the power of the web, you can now get access to the lyrics, music video, and full knowledge about the artist currently playing.
iRemix can be found on Cydia for $4.99.






I would actually consider buying this if it had the option of making (and renaming) multiple on-the-go playlists.
something the iPod classic has been able to do since it came out.