I've been having the frequent reboot/freezing problem too. I got my first K3 about a month ago, and it worked fine for two weeks, then started resetting. I called Amazon on Wednesday to complain, and had a new Kindle Thursday.
Three days in, this one seems even worse. It doesn't just happen when sleeping - sometimes it happens as I'm reading. Very frustrating. And I've only got one book on it, so that shouldn't be the problem.
I just tried upgrading the software to 3.0.3 -- if that doesn't make a difference, I'll call Amazon again in a few days for a replacement. I love the Kindle when it works, but this is incredibly frustrating. Argh.
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