IPhone 4S, bad esn, App Store?

I wanted to purchase an ipod touch 5, but I realized I could purchase an iPhone 4S with a bad ESN for a cheaper price. I would only want the iphone to use as an iPod touch, but would a bad esn inhibit App Store purchases in any way withan apple ID?

Added (1). The iPhone would have the same processor and screen resolution, but different size. Also same iOS support ending in 2015.

Yes, it should work fine the way your described.

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