Very timely post for me (just got an iLiad...). Very helpful for the n00bs like me who worry about their new gadget yet want it hacked...
One additional question: I assume that the installed content is "blind" to the CF card on which it is. Ie. if I install a number of applications on my current CF card, all what I need is an exact copy of that content on another CF card (ex. newer, bigger and faster one) and everything will work properly when I use that card instead... Am I correct?