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Get a 14 inch sub-notebook with tablet capability. This way you can use it as a notebook with screen facing keyboard, or as a e-reader/tablet with screen facing upward. Will run you about the same as a high end e-reader, perhaps a little more than an Ipad, but less than an Ipad if you are also buying keyboard/case adapter for the Ipad. You'll want to be able to easily pull pdfs and other documents out of web/email and view them/send to other people, and be able to view PPT slides and make/read annotations.
You can get a good 14 in rotating tablet notebook for ~ 600-800$ with i3 processor and 4gb of ram, which is a good 3x more powerful than an ipad, and it will run win7. This is your best option for academic work. It also should have DSUB + HDMI outputs so that you can run powerpoint and do presentations etc.
In the following year, there will be many 10 inch and 14 inch tablets (asus, intel, and many other brands have had prototypes on display this year) in the 400-500$ price range. Most feature 1-2 USB, bluetooth, TFT displays (some are sunlight viewable) and HDMI output. All are touchscreen.
Using E-ink for academic work (annotations, webbrowsing, etc) is simply too slow and inconvenient.
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