I'd say Touch. Mogul is a powerful phone with a lot of gadgets. There had been some problems reported about the Mogul though. There were some battery problem, but if you get a nice one, you might really like it.
Touch is a nice device. If you're not a hardcore of PPC, then a Touch would be enough.
Both of them have to ability to do a lot of amazing stuff, but gaming might be a bit limited since it doesn't have a full QWERTY keyboard.