I would recommend a Palm hi-res or better (320x320), or a Pocket PC with a 240x320 or VGA screen. But I, and a lot of others, like reading on the PDA screens so much that we prefer it over printed copies. Primarily for novels. Reference books might be another matter because you can't really flip through them. But even then it can be nice because of the electronic search features.
PalmDoc(.pdb) and iSilo and plain txt seem to be very common formats. They are the ones I use most. PalmDoc format can be read with almost any reader on PPC or Palm.
I hope you decide to give it a go as an ebook, and I'm sure you can find someone here to help you out. If you go with iSilo, I think I can help you through the process in general, but if you want to make it professional looking, you might need to get input from one of the experts around here that have more experience.
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