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I'm not sure that currently a rental model for e-books would work. Especially as there has been not commercial precedent with pbooks (I consider libraries non-commercial), and that means publishers will be very wary, even if you convince them that the risk of users just ripping off the DRM is low. Publishers have already been very wary of overdrive.
Personally, I would be willing to pay a very small amount (either something like 50p a book or £5 a month) to use a rental service and ONLY if it offered the top publishers and best sellers, along with a good selection of other books, soon after release. It would have to be either an unlimited checkout time/items or a substantial number to interest me as otherwise I can check out 10 e-books at a time via my library.
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