I have an ebw1150 and an Ipaq. I use the ebookwise at home and I have the Ipaq in my purse. I really love both of them and even though the Ipaq is small it is so convenient with all it's other features that I would not give it up. I love being able to pull it out and read a couple of pages when I'm waiting for an appointment or I'm stuck at the railroad crossing waiting for the train.
I used to buy any DRM files in .lit so I could convert them for use on my ebookwise, but fewer publishers are using that format these days. Because of that I have figured out how to dedrm ereader and epub (for my own personal use). If I want to read a book on my Ipaq I convert it to .lit because I'm so used to that format. I use and really like calibre to manage my books, though I also use librarian for the ebookwise. I seem to have a complicated system!
I keep looking at all the cool, new shiny ereaders out there and feel urges to buy one, but then I realize I am perfectly happy with what I've got. I'll see how long I can resist.