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I have an eBookwise 1150 and it's an excellent reader. It doesn't work in sunlight as well as an e-ink device, but is quite readable in all other environments I've tried.
Regarding PDF files, your choices are to convert the file to some kind of text, e.g. HTML, or to a series of jpg images (there's a tool on these boards to do that). If your document has complex formatting, non-latin characters, diagrams, etc. you may want to convert to jpg. In most cases, I found that pdftohtml worked just fine, or the Amber ABC PDF converter from processtext.com.
Battery life on the unit is excellent, in my opinion. I usually keep the backlighting turned down pretty low and I get about 20 hours of reading. The ergonomics are good, too. The device is a convenient size and comfortably fits in the hand.
There is a dictionary, and a stylus interface allows selecting words, making notes, etc.
If the PDF-> JPG conversion tool had been available just a bit earlier, I probably would not have bought my second-hand iLiad. I love the iLiad for its flexibility and pure geek factor, but the eBookwise would have met all my real reading needs. My daughter is using it now.
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