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Form factor is an issue, too -- not just the ability to do more than one thing with a device.
I believe ereaders have at least a medium term future as a stand-alone device, just as "point-and-shoot" cameras do today even though many of us carry perfectly acceptable cameras for taking snaps in a smart phone. E-readers somewhere in the 6" range have a comfortable fit in the hand and display enough text -- but not too much -- at one time to best suits long-form reading.
As for tablets (and colour and video) -- the jury is still out on what the optimum size is: 7"? 10"? 12"? 4:3 ratio or widescreen? single screen or dual screen? And how important is input as well as playback? Ironically, it can be "harder" to type on a touch screen than a Blackberry, and the larger screen makes it tempting to want to input more, not less. Some folks have a smart phone and a tablet ... but still take their laptop travelling because it is so much more efficient for some tasks.
Again, what I am saying is form factor matters and in the larger devices the public hasn't landed on some universal "yes" the way it has with smart phones (ex PDAs) and laptops -- or even, I would argue, 6"-ish e-readers.
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