I am emptying up my HD & ~/Library/Application Support/MobileSync is using 300MB of space. Is it OK if I delete it? I only know that some kind of backup is kept in this folder.

The only backup that I do have is Time machine. Does mac automatically backup the ipod[have set itunes to sync all songs & playlists] & is this it? no other backups [iphones or other peripherals]

Please advise