I've had my Gen3 since July 2008. I also picked up a Kobo this year. I have no problems or complaints with the Gen3, the Kobo was just too cheap to pass up.
I haven't actually laid eyes upon my Gen3 in several months as I loaded it up with treats and loaned it to the teenaged daughter of some friends. Said teenager was about to undergo some serious back surgery and an ereader was ideal during her recovery period. She is now in excellent health and the Gen3 will be back in my hands at the end of the month. This a good thing as my brother-in-law hijacked my sister's Kobo which somehow resulted in my Kobo going to live with my sister.
I suppose I shouldn't complain as I am the person who convinced them all to convert to ereaders in the first place...
I am planning on updating the Gen3 to read epub files because of the Kobo. No more mobi for me! (thank you Calibre).
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