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I think that the K3 and newest Sony devices have the first E-Ink displays that are really readable, and despite all their drawbacks, they are a pretty good buy if you're willing to deal with relatively limited text on a page.
However, if you are used to reading on a high contrast monitor with bright whites and dark blacks, e-paper devices will not be your cup of tea. Even though I have called the new E-Ink readable, it's still at a level of quality comparable to low-end paperbacks and newsprint. It's a very nice step above the old Vizplex stuff, but it just can't compare to the contrast from a backlit screen.
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