Yippeee! Finally after 3 weeks!
This morning I sent Apple an email telling them that this sending of the activation code was agrivating. I told them that I bought a macbook, switched from windows, bought an ipod touch, but I'm still waiting for the activation code. Later this afternoon I just received the activation code.
Setting up the device was quite straightforward. They provide a very helpful wizard-like experience. But then I got a CodeSign error when I tried Build&Go. I discovered that the Code Signing properties in the project were not set. I just had to select the developer provisioning certificate and presto... I was debugging my buggy prototype on my iPod touch :D