I also received my Jetbook Lite today.
Good: the screen is quite readable and clear even in weak light. I looked at a Sony PRS-300 last weekend and I honestly think that although its e-Ink screen was good, it was not as sharp and crisp as the JBL's reflective TFT screen. I loaded several books (TXT, ePub, pdb, and PDF) onto an old used 2 GB SD card I had sitting around. I popped in the SD card and was able to read my books without much fuss.
I also like that it works with plain old AA batteries; I can travel with it and never have to worry about adapters or charging.
The photo display feature isn't that great. I can see carrying a few fave photos around, but I see it being useful for viewing street maps I captured off the internet with a web browser.
Bad: I do not like the left-side slider switch - it is fairly stiff and difficult to slide. Fortunately I find I just ignore it and use the chrome left-right buttons anyhow, so not a biggy.
I also don't like the fact that locked books do not seem to let me adjust the font size. Other books I prefer 18pt font, but I can't seem to make that work with the locked books.
Ugly: I find that it seems to miss some of the words on the page breaks when viewing locked books. I've seen this mentioned by others a few times, so I am hoping that Ectaco is working on fixing this in a firmware upgrade.