My iPod Touch 4G (black) is constantly crashing after a few months of using iOS 5.0.1. Are there any solutions to this?

Question

Okay, so i have been using the iOS 5.0.1 for a while now, and a few months ago it was working very smoothly, and i was very happy with it because of its new additions. However for the last few weeks, my iPod touch started to lag, especially when i use the facebook app and safari. When I use facebook, safari, or any of my apps, they will crash in under 5 minutes. It has been driving me insane... I open up safari, open up a website, and there, a black screen, and it crashes! Or i open up facebook, try to put up a new status, or check my notifications, 2 seconds later, black screen, and crashes.
I'm not sure if i want to restore my ipod because the last time i used restore, the apps were all over the place and a lot of information was lost in tht process.
If i go to the apple store, will they be able to fix this or replace my ipod? if not, then i'd much rather throw this one out and buy a new one..
But please, if there are solutions, please tell me!!! (i dont wanna waste another $300)
Additional Information:
-iPod Touch 4G
- 32 GBs, 7.4GB free - audio = 4.9 GB, video = 7.3GB, Photos = 0.19GB, Apps = 7.8GB, Other = 1.16GB
- Black
- Capacity (said on ipod touch's itunes devices page) : 28.48GB
- Software Version/iOS : 5.0.1

Answer 1

Well, you could trade it in for a white one! 
First, try a system reset.  It cures many ills and it's quick, easy and harmless...
Hold down the on/off switch and the Home button simultaneously until the screen blacks out or you see the Apple logo.  Ignore the "Slide to power off" text if it appears.  You will not lose any apps, data, music, movies, settings, etc.
If the Reset doesn't work, try a Restore.  Note that it's nowhere near as quick as a Reset.  From iTunes, select the iPad/iPod and then select the Summary tab.  Follow directions for Restore and be sure to say "yes" to the backup.  You will be warned that all data (apps, music, movies, etc.) will be erased but, as the Restore finishes, you will be asked if you wish the contents of the backup to be copied to the iPad/iPod.  Again, say "yes."