Welcome!
Honestly, which features are key is different for every person. Example, some of the items in Elfwreck's "Issues to Consider" would go in my "Couldn't Care Less" category.
I think to some extent what you care about is based on what type of reader you are. Fiction or Non-fiction? Fluff or Technical? If you are reading a non-fiction research or programming type book, you may want the ability to highlight, annotate, etc. whereas if you are reading the latest mystery best seller, that doesn't matter.
So key for me are:
formats supported
DRM (related to format) - how hard to get around it; more tied into where can I purchase books from
e-ink (I spend too much time in front of LCD screens as is)
price
size/ergonomics
Not important to me
wifi (I just transfer everything via USB from my PC with Calibre)
keyboard/stylus/ability to add notes
dictionary
PDF support
SD card support (I usually don't keep that many books at a time on my reader)
accessible battery (just because the company says it's not user replaceable doesn't mean it isn't)
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