So Gizmodo wasn't a fan; Crunch Gear was more positive:
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Superficially similar to the new Nook, but the Kobo is perhaps even simpler, and the form factor is slightly more book-like. If you don’t need 3G or the other perks of the Kindle ecosystem, and just want a straightforward e-book reading device, this Kobo could be a good match.
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http://www.crunchgear.com/2011/06/13...touch-edition/
And this reviewer provided more comprehensive details:
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Kobo hit a home-run with the Kobo Touch due to the quality build design and the robust functionality! I had the original Kobo e-Reader and the Kobo Wireless. This model seriously puts those two to shame! The touchscreen display should be easier for your average user to wrap their heads around, since almost all hand held mobile devices are touch screen. ... This new Kobo Touch gets everything right and is an upgrade in every way from previous models. The two great functions are the inclusion of a web browser to surf the internet, check your email, and even buy books from other stores directly. Also Reading Life is a very unique program that currently no other e-reader company has sought to implement. ... Another great thing about the Kobo Touch is the slim design; it weighs less and is slimmer than previous models. It maintains the matted back design so it will not slip out of your hands and provides a good grip.
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http://goodereader.com/blog/electron...ouch-e-reader/
And, yes, it's true: it doesn't play mp3s. But then, it's a Simple ebook ereader -- that IS the point of it.
At the price point with wifi, touch screen (responsive keyboard, excellent tap response to turn pages), live bookmarking updates across multiple devices (contrary to the Gizmodo review, this DOES work), full epub support including public library access, a decent pdf renderer, and the ability to display deDRMed mobi files ... it's great value and very credible choice.