Below is my contribution to Tom Barrett's crowd sourced Use an iPod Touch in the Classroom, part of his Interesting Ways... series of guides for the use of technology in the classroom. You can read the rest of the suggestions at the link above...
Instapaper, is an application that allows you to reposition web content, and your own content, for easy reading on devices such as the iPod Touch. As you are browsing a web page, you can send the text of that page (through the use of a bookmarklet) to your iPod Touch to read later (and offline if necessary) with the Instapaper app. This app can be used with a classroom set of iPod Touches to create a system of pushing content out to the iPod Touches with a minimal amount of work.
A teacher could use this to share with her students an article she would like them to read on the iPod Touch. By using this method, she can invoke the Instapaper bookmarklet, which grabs the text of the web page, and then have the article appear on each of the classroom iPod Touches synced to the class account. In addition when you set up your account with Instapaper, you also have access to a special email address that allows you to send the contents of an email to the Instapaper app. For example a teacher might create a handout in her email and then instead of photocopying, she sends the email to the Instapaper account and it shows up on each iPod Touch.
I use this method at home with my son. I have his account bookmarked on my browser and when I find something I believe he would be interested in reading, I send it to him via Instapaper and he reads it on his iPod Touch.