IPod Touch 5th Generation vs iPhone 5?

I currently own a 2nd generation iPod Touch that doesn't fit but half of my music and an iPhone 5. This Christmas I was given an 5th generation 32GB iPod Touch and I'm trying to figure out if I should keep it or return it for something different. I would like to keep it because it would hold all my music and it's definitely an update to what I currently own but I don't know if it's silly to have this newer iPod AND the iPhone 5. The reason I don't put my music onto my iPhone is because of limited storage and I don't want to slow it down. Should I keep the iPod or return it for something different?

I'd keep it, I have an iPhone 5th Gen 16GB, and an iPod 5th Gen 32GB, I very rarely use my iPod, but it has a longer battery life, and I dedicate it to music, it's very convenient when you're traveling (flight, road trip), I actually just keep it in my car hooked up to my stereo so I always have my music with me. Most people think it's pointless to have an iPod and iPhone, but I find it handy when needed. It's also good for games, and movies too if you don't have an iPad, this is all out of my perspective, and experience though.

I don't think you should keep an iPod touch just for music and you already have an iPhone 5. If you can return it for full cash, do it. You can then use the cash toward a used iPod classic for just music. You can find a iPod Classic with large storage for just music. You can fine one on ebay. Price depend on the amount of gb you want to buy.