There are two cables securing the display assembly to the logic board. One is easy to disconnect, but the other is more challenging. The thin black cable connects beneath the logic board. That means that replacing the display assembly will definitely not be trivial
£50 for the screen, the repairer's labour and your time, pretty borderline as to whether it's worthwhile to repair
Craftybutcher, The ifixit website is your friend for this kind of question
http://www.ifixit.com/Teardown/iPod+Touch+4th+Generation+Teardown/3562
£50 for the screen, the repairer's labour and your time, pretty borderline as to whether it's worthwhile to repair