I bought the PDNW and am very happy with it, after hacking it. The list price is higher than the IQ but after discounts and rebates I paid a little less than I would for the IQ.
I'd have to assume that Pocketbook's reading is well integrated and able to read all formats in one application. With the PDN I have to go find the application that has the book I want. The IQ's reading app would be a huge plus. I've downloaded a handful of reading apps for my PDN but still can't read quite as many formats as the IQ does. One plus for the PDN is the Barnes and Noble store is built in.
The hacking community on Slatedroid is very active and helpful. The firmware is easy to install and getting Android apps to install after that is trivial. I feel like I have pretty good support for the PDN. If you're waiting for Pocketbook to release the next firmware to make your reader everything it should be, good luck. I'm still waiting for the updated firmware for my PB 602.
Personally, I think the PDN is only a passable reader. It's got a short battery life (about 6 hours) and is heavy (more than 1 lb.). I would expect the IQ to have the same problems. But it's a reasonably good tablet. It does all I need for a tablet. If I need a reader I'll read on my PB 602.
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