I've recently got my girlfriend a Kobo Touch, she really likes it for the most part, but has a few issues:
1) The contrast under certain lighting is quite awful, the background is quite grey and muddy and to quote her "like reading on stone" which seemed to be a pretty accurate description.
2) If she's on page 46 of the book, it'll be split into say 5 pages on the Kobo itself... if she then puts it into sleep mode on the 4th page of page 46 (hope that makes sense) and turns it on again, it'll be on the 1st page again - quite confusing!
3) It doesn't seem all that responsive at times. Is she doing something wrong, or is it just something you get used to?