On a number of occasions I have had a feeling of deja vu with the iliad, thinking back to the heady days of the psion PDAs. I found this article on The Register
about what went wrong with psion a very interesting read, and I wonder how many parallels there are with iRex. The psion for me has always been the best PDA. I've tried a palm and others like it but never grew to love it like my psion. I ended up deciding to buy an iliad and not procrastinate any more because I was worried iRex would go out of business before I had a chance to get one. Perhaps this is part of a cunning marketing strategy.
Anyway, the article is a long read, but a good one. I printed out a PDF version and read it on my iliad (of course). And for those interested in linux my psion 5MX is a dual-boot EPOC and linux system. Someone even managed to get a fully functional and useable Apache / MySQL / PHP4 development system running on it.
The psion 5MX runs for about 40 hours on two AA batteries and is instant on and off, even when running linux (really instantaneous). No e-ink though