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The "One" is their old model. Good reader but somewhat outdated. The "Neo" is currently their main reader. It supports practically all the formats you could possibly want, including MS Office formats, but not .lit. However, format support should not be that important. It's easy to convert. If you don't care about touchscreen and Wifi you might prefer the "Club" which is the same as the Neo minus those features.
All Bebook readers support Epub with Adobe DRM, which is probably what your library uses.
The Bebook Neo is a rebranded Onyx Boox 60. It might be cheaper to buy an Onyx on your side of the ocean.
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