Firstly, great Editorial - thanks.
In my view, the sheer amount of free books available (out-of-copyright and creative commons), supplemented by buying the odd book can indeed be a little overwhelming. When I first got my e-reader I downloaded almost anything that looked even vaguely interesting. After a relatively short period I realised that I would never have the opportunity to read them all so I have deleted a lot of them and am now much more choosy when downloading books.
Having said that, I do love the fact that I have so much choice; I've just learned to be a little more discerning when applying that choice.