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I lost track; guessing about 3-4 years.
The only problems are occasional failed startup requiring reset and some more complex PDF content caused it to crash. My screen right now is same as new. I didn't abuse the device. Moreover I am not aware of any other device that is as frugal on power consumption. I never worry about battery.
Regardless of new formats, there will always be plenty of simpler TXT and Mobi files to feed it. Right now I use Instapaper and simply grab printable web page into a TXT file. I don't plan on selling mine ever.
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