It’s apparently legitimate according to wired.com.
So want a free iPod (and use me as a referrer helping your humble reporter get one of his own?
Then just signup. There are several offers that look easy to complete, such as signing up for a credit card, or trying AOL. Just signup and cancel in a few days. No bills, no mess, no fuss. If you like the product/service. Perhaps keep it. Signing up for AOL takes a few minutes and doesn’t even require a credit card. Signing up for a credit card is something people do daily for a free t-shirt, so nothing new there.
Then get 5 of your friends to signup for you…. and you’ve apparently earned a free iPod according to wired.com