The new Wi-fi model hasn't been released yet, so no-one has any hands-on experience with it. But, from what I've read, I can't see any reason why you can't use it in Spain. The whole point of a Wi-fi model is that it will be independent of the 3G cellular network, so should work anywhere in the world (provided you have a Wi-fi connection of course).
Keep in mind that the new model will be available direct from the Kindle stores in Europe. You won't have to buy it in, or from, the US. If it's released well before your trip, you might prefer to buy it before you leave and take it with you.
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