Good tip. Perhaps not ideal for packing an Ipod in terms of size factor (Round vs square) but for certain items this might be ideal.
You're correct about the round shape Till, but I usually have other small items (USB flash drives etc.) to fill the open space.
Recently, I stumbled upon Viewtainers at my local Sears hardware store. They are small, clear plastic tubes originally made for storing small workshop items such as nuts & bolts - but have proven to be great for travel. They are dirt cheap (about $3) and have soft plastic endcaps (one fixed, the other removable). I use the small (2"x4") version for holding my ipod nano and earbuds. I keep it in the center section of my Airboss. The cylindrical shape is easily distinguished from my Eagle Creek packing bags so I can dig it out 'by feel' on my way down the jetway. And it's study enough to protect what's inside.
http://www.viewtainer.com/