I think it really depends on what you want. I want something small and light that I can curl up with to read for an afternoon. I think the Kindle is too big and heavy; the Atom and the Edge are way bigger than anything I'd want for pleasure reading. I travel a lot, so I want something with a battery that will last a week without charging. The hour ride to the airport, hour to two at the gate, ten to twelve on the airplane, etc. make anything that's not eInk less appealing.
For two pounds, I can take my little netbook and have a keyboard with my normal word processing and email applications. Since my Palm provides me with a WiFi hotspot for that netbook, I don't really care if my reader can go online or not. In fact, I'd prefer that it not. Why pay for something I won't ever use? For my needs, dedicated reader plus dedicated netbook work just fine. Show me a tablet that plugged into a more capable base station for use at home and you'd have my full attention as a netbook replacement, but I still would want my light weight, dedicated eInk reader.
People with different needs would give you entirely different answers to the same question.