I can't honestly say that I love my Kobo, but I can say that I like it a lot. The Kobo is my first ereader, I use it a lot, and I'm satisfied that my $149 was well-spent (considering the options I had at the time). The Kobo does what I bought it to do, an e-ink device strictly to read books on.
I avoided many issues by lurking at MobileRead for months. For instance, I never used the SD card, so I never ran into those related problems. I found out how to strip DRM so that I could change the margins on crappy-formatted epubs. I learned to live with the slow-ish page turns.
The only real issue I had was the forced power-off, which has been rectified to my satisfaction with firm-ware 1.8x. The other issues I had (or still have) have been nit-picks. Other ereaders have their own nit-picks, it's the reality of technology and the huge gap between what the consumer wants and what the tech companies are willing to produce. Very rarely are consumers able to find that "perfect product." However, you can educate yourself with research before you buy, so you know what you're paying for.
Given the choices I have today, I would probably buy the Kobo wi-fi. And not because I want wi-fi (I don't), but only because it's hardware is faster and sharper (screen) than the first generation Kobo. All I want is a reader that uses e-ink, is relatively inexpensive, is comfortable to hold, and will not ask me to jump through hoops to get books because I live in Canada. Oh yes, and it supports ePub file format (which isn't that big a deal after I learned about Calibre).
I have high hopes for Kobo in the future, because IMO, the company started with a great vision, stumbled (and stumbled some more), but has been heading in the right direction. I plan to keep my Kobo for at least another two years because I expect my tech toys to last that long. The only thing that would make me buy a new reader before then (short of my Kobo failing) is if that "perfect product" were to show up. In the future I may not find the one I LOVE, but hopefully my next e-reader, at the very least will be one I like a lot, again.
My overall impression of my (original) Kobo is definitely positive.
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