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"So I am wondering if anyone here knows of a product coming out in the future that does what I want?"
There will probably be something, but most likely you'll be out of school by then.
During your school life, I don't believe you're going to see the revolution that you desire. It not only takes a device, it takes publishers being on board, and they aren't even on board with supporting simple fiction with a cheap ebook edition.
I would look at the existing devices, your reading habits, and see if anything helps you with some of what you read. Your needs are the most difficult to address, so I wouldn't be surprised is the answer were, "Nothing really helps me that much."
Once you're out of school, your needs will be much simpler.
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