Then you could activate your computer on their account!
I do believe you can have it with other's data, you just can't sync your things onto your device (more reason to use Simplify/SwapTunes), unless you have SwapTunes (haven't used it, though; I'll take their word for it).
"Well the thing that would kill my he'd is all of the apps." Should be:
"Well, the thing is, that would kill his apps on my iPod." (Sorry, bit of a Grammar Nazi)