I wouldn't use the Kindle for anything other than downloading books, reading feeds and probably checking email (Yahoo, GMail). But, to even have the option of doing those is fantastic. My expectations with the browser aren't high, so any of the above are a bonus really.
I'm a bit of a geek and will no doubt get the itch to hack it at some point, but only after having it for a while and when the novelty has worn off!
TheKindleWorm - Why were you charged for news feeds? Did you have them converted and emailed via the Amazon service? Unless I'm away from home, I intend to use wifi to load feeds myself via Calibre.