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Well, the Kindle is almost unique in not supporting epub, a format for ebooks which is open and very widely (= by almost every other machine) supported. And the Kindle is intended to be very nearly tied to buying books from Amazon. For that reason possibly almost any other reader would be a more flexible bet.
Kobo appears to be a good model, and came at the top of my list when I was going to buy, but it's not available here in Sweden. And that's the next point. It makes sense to buy something that's readily available where you live, unless there's some impelling reason - like outrageous prices - to do otherwise.
Personally I bought an Iriver Story, the previous model to the current one. It has its pimples, but basically I'm happy with it. I think you will find that most people in here would say much the same about whatever model they have, so it's swings and roundabouts. Go round a few tech stores and see what's available, and what you like. They all work pretty much the same.
Good luck.
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