I use my Touch as a backup reading device and I like it better than previously owned Palm/Palm clones. I find it very easy to use wifi, probably the easiest of any portable device I've owned.
My Touch is used primarily as a PDA and music player but I do play the odd game and read occasionally. One of the best news apps is the New York Times. You have to be connected to wifi for the news to update but it's really good and even includes pictures.
Hope your PDFs do not have DRM or you won't be able to read them on a Touch.
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