Sooner or later, someone will have a web site where you can
1) upload Adobe DRM books to a personal virtual bookshelf, and
2) read Adobe DRM ePub productively with a web browser, specifically Kindle3's
This would let you check out a library book on your computer and then upload to your bookshelf, where Kindle could read it.
There are already at least a couple of sites where you can do 1), but none that I've come across also have a web ebook viewer than can handle DRM. Google books has a web ebook viewer than handles DRM material, and that sort of works on Kindle3, but you can't upload your own books.
I think a solution is likely to be available in some form this year as browser-based reading becomes more popular (Amazon having announced theirs, for example) and Chrome OS devices start to dribble out.
If Overdrive wanted to they could create a web site that allowed browser based reading of checked out material. Then possibly Kindle owners could take advantage of this.
I solved this problem (and others) by getting an iPod Touch. It works great.
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