If you want color, you have no choice but to go to a tablet. The ipad3 with its high resolution screen makes the text look nice and crisp. I can't speak to the smaller tablets like the kindle fire and such. I am sure they are great as well.
If you are up to removing the drm on a book, you can use software called calibre to convert the book into any format you need; so you can then read a book from any bookstore on any device.
Calibre will not remove the drm for you out of the box, but there are plugins you can add to calbre to do this.
The nice thing about a tablet (ipad anyways) is if you are not up for removing the drm, you can get a kindle reader app, you can get a kobo app, there is apple's own ibooks. So, you can buy books from amazon and read them on the kindle app, buy books from kobo and read them on the kobo app, buy books from the apple bookstore and read them in ibooks.
Last edited by foghat; 09-27-2012 at 12:51 PM.