Overall, I'm happy with the Touch. I've had a couple of problems, but nothing bad enough to take it back to the store.
I had the "not turning on" problem once. The reader fixed itself while I was online looking for a solution.
I started getting the storage error 3 or 4 days before the fix came out. It was an annoyance more than anything. I could read my books. I didn't lose any books. I could download books. And, the reader kept my bookmarks correctly.
I'm not crazy about some of the design decisions Kobo has made. I hate the new home page. I'd much rather have a book list rather than a pile and an indication of how much of each book I've read, like on the WiFi. On the other hand, the dictionary and navigation is so much better and the new font choices are great.
Compared to my other choices (Kindle and Sony), I still think that the Kobo is the best of the bunch.