I think you will likely be able to recover you apps. I just searched for "ipod touch app re-download" using google and the 3rd result was a support doc from Apple explaining how to redownload apps you'd already purchased:
http://support.apple.com/kb/HT2519
Then I tried a search for "ipod touch backup" and found this
http://support.apple.com/kb/HT1766 which has a list of what items a backup includes.