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If you are looking for one device to rule them all and check outlook email too - then definitely KF.
If you want a device that will make reading very comfortable (something that KF will not be able to do) - Kindle Touch looks like it is going to be the one. While you don't need keyboard most of the time and it just takes up space, not having it at all is a pain - I tried using K4 non-touch, non-keyboard and didn't like it.
Kindle Touch might be a nice compromise for when you need the keyboard occasionally. But it will not have an app for email. You will have to use web-based mail clients.
3G is definitely worth paying $50 one time. It allows you to get new reading when you run out of books when you otherwise couldn't get them.
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