Originally Posted by anarcHy
Does this mean Iam gonna have to get a new ebook reader
Of course not, you have at least two other options:
1. Install the ePUB firmware (1.6 or 2.1) in you Cybook. You can then buy new books in ePUB format and read them. The downside is you lose the ability to read Mobi books (this is due to Amazon contract restrictions), but you can swap Mobi and ePUB firmwares as often as you wish (and as sensible).
2. Convert whatever format into Mobi, with Calibre for instance. If you buy books with DRM you'd have to remove it first. You can also convert your Mobi books into ePUB to solve the problem in the previous point.