How can I test an iOS application on my ipod touch without registering for the apple developer program or jailbreaking my ipod?
Neither is a viable option at the moment.
I'd like to test on the device itself instead of the onscreen emulator, to see how it performs on an actual ipod.
It's worth the buck to apply for the Apple developer program. You will be able to use ad-hoc provisioning to distribute your app to testers and test devices. You're allowed to add 100 ad-hoc provisioning devices to your developer program.
With Xcode 7 you are no longer required to have a developer account in order to test your apps on your device:
Check it out here.
Please notice that this is the officially supported by Apple, so there's no need of jailbroken devices or testing on the simulator, but you'll have to use Xcode 7 (currently in beta by the time of this post) or later.
I successfully deployed an app to my iPhone without a developer account. You'll have to use your iCloud account to solve the provisioning profile issues. Just add your iCloud account and assign it in the Team dropdown (in the Identity menu) and the Fix Issue button should do the rest.
UPDATE:
Some people are having problems with iOS 8.4, here is how to fix it.
Go to Build Settings, under Code Signing, set Code Signing Identity as iOS Developer & Provisioning Profile as Automatic.
Select your device (now visible) from drop down list and run your app.