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I think the new Kobo will do well in the US, now that they have expanded to Best Buy and Walmart. The various colors make them stand out compared to the Kindles and Nooks next to them, and the lower price than the Nook and Kindles will also attract buyers, as will as the touch screen and smaller size compared to everything else, even the cushy back.
However, the Kindle with offers is also being heavily pushed, with budget shoppers looking only at the $114 price tag, and I've found the 'special offers' part of it isn't well-advertised or mentioned by salespeople, and most people probably don't understand that 'special offers' means advertising.
I've read that Kobo is aggressively pushing their reader into Europe as well, which should also help their sales, especially with Sony probably not willing to match Kobo on price.
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