I use both the touch 4G for portable and the iPad for home reading. My eInk Sony is still best for outdoors, but it gets used less and less. I enjoy using iBooks despite its lackluster setting controls for customizing the way text is displayed. The reason I love iBooks is that it will sync book information between my touch 4G and iPad so that I can read while away from home using my touch 4G and when I get home pick up right where I left off using my iPad. It syncs current reading location, bookmarks, highlighting, etc. That is really essential for me as I read a lot of scholarly works and need to sync that info. And best of all, it even syncs book info for sideloaded books!
As far the touch 4G, I love the retina display but the 3.5" screen is a bit small. I keep wishing Apple will come out with a 4.3" or 5" version. That would still be small enough for portability and pocketability, but easier to read. I find that it bothers me a bit to see many or most paragraphs spread across multiple screens due to the tiny 3.5" screen. That makes highlighting large passages more difficult and clunky. Also the tiny screen makes viewing illustrations less of a pleasure. On the iPad I can zoom in on tiny illustrations to see better detail. For text only books though the touch 4G is pretty good, though the battery life is pretty dismall on mine--4 hours at best with dimly lit screen.
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