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I've liked the Kobo since the initial Canadian release -- even though we went through some nasty initial issues with ePub rendering.
The devices definitely work best with the native Kobo books purchased through Kobobooks -- you get dictionary support, Reading Life, multi-device cloud syncing of bookmarks (same book, and bookmark, for instance on the Kobo, a Blackberry and even another wifi Kobo).
Yesterday, over wifi, Kobo Touch released firmware 1.9.4 which improves screen response and appears to have tweaked wifi positively. If you are curious, from the Home screen, select Settings and Device Information to see which version you are running.
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