I love my Kindle 3 but the browser is awful. it's usage should be limited to forums or text mainly websites. I barely use it, my K3 is wifi not 3G so I'm at home most of the time when I use it and Prefer the iPad instead, or my laptop.
The NC stock browser is not good in my opinion and the stock PDF reader... forget it. It can't even remember last read page. You can root it (read about the process here and online) but you will live worried about next official B&N upgrade breaking your previous work. If you're on a strict budget rooting a NC would be an option for you, otherwise I will suggest save a big and get a Galaxy Tab wifi.
But if you're not willing to wait or save, you should consider the Sony. it combines a good PDF experience with good ereader capabilities. Kindle 3 is awesome for regular ebooks but the PDF capabilities are not as good as Sony.
By the way, Sony ereaders are not cheap. Kindles are way less expensive ...
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