Originally Posted by morpheusdreamin
It's small, functional, and does what it says on the tin - reads epubs, and reads them easily.
Wait, yours came in a tin? I got gipped.
Some of your questions are absolutely unanswerable at this point as only the Kobo gods could possibly know (and many of us doubt those gods very existence!). However, I can say that the Kobo Wi Fi model is the new model and I would expect any truly amazing enhancements to the Kobo experience will henceforth be directed at this device and not the previous model (or at least eventually). So, if you want to future proof yourself a wee bit and line up for dramatic improvements (if they happen, 'member what I said about doubt) then the Wi Fi model is the model to have.
Also, you in no way have to use the Wi Fi. It is disabled by default and stays out of your way with gusto.
Also, there is a dictionary feature (as others point out) but it is only useful on books downloaded through the Desktop app (basically useless, but occasionally).
They haven't even gotten around to adding a painfully and tormentingly obvious Goto page feature for our dirty little eReaders, so "insert chocolate covered diety of preference" only knows what they are actually doing up there in Canada!?
By the way, Welcome, welcome! to this place we are all trapped in.