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I suppose something to consider is how likely you are to buy another device in the near future. If you're the kind of person who will buy a new reader in a year because it's totally kickass and has a million features, you may be better off going with the Cybook just so you can reuse your e-books.
If you think you'll keep your device for a really long time and are purely concerned with money savings then the Kindle is probably a better bet. Of course, maybe it'll be Amazon to come out with the next super awesome device, but I prefer not to support them if I can justify avoiding it.
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