I created a simple platform game to see how it would behave on my 1st generation iPod touch. It works somewhat buggy, but is playable on iOS devices (also, I tested it on my Android phone and it works pretty similarly).
Here's a video:
EDIT: apparently, the Release 57 fixed the collision bug. However, the "Simulate pressing Jump" action seems to be bugged - it only works once, both for keyboard and touch input (normal jumping by pressing Shift works correctly).