1. A *good* bookseller wants and needs to know as much as possible about what's being published, in all forms and formats. One of my reasons for going to a bookstore is to take advantage of that knowledge. Currently that is by seeing what's on the shelves, on the new books racks, or what the staff recommend. I could still use this in an ebook transaction - the point is that I don't know everything that is available. Even in print, I regularly get surprised by finding something I didn't expect, and that's almost the only way I'll see new authors. Ebooks just expand the problem, because I almost never hear about all the new stuff, and then there's the garbage filter that one effect of an established publisher.
2. A bookseller would have to charge something above the internet fee, just to pay salaries, lights, and rent. That inevitably means the ebook would cost more. That's a minus, but if the actual price is still reasonable, I may not mind paying. Dunno how the economics would really work out though.
3. One of the reasons for genre bookstores, is that it's hard (and/or not interesting to the seller) to be up to date on everything, and maybe they can keep up with a smaller focus. Would you go to a bookstore for ebooks, if the staff were really knowledgeable about something like foreign language literature, or one or more special genres? Now add ebooks to the mix, and suddenly you're finding out about stuff just published in Timbuktu or New South Wales, and it doesn't depend on a mistaken street date or slow shipment.
4. I don't believe we'll see an ebook-only physical store. But when the bookstore is doing stuff like author signings, I think anything extra would be good for business.
*** Hey Fans, here's a special offer, get all of specialAuthorX's backlist in ebook form for $10 when you buy the new hardback. Good only while the Author is in the store!*** (or similar time limited promotions.)
5. As always, ebook technology still limits some things. I think there will be more possiblilities when color eInk becomes available, so that what you get matches what you see on the color display. When hardware prices come down, more people who are less voracious readers will have them, and be interested in applicable ebooks. How about selling a package deal of a paper comicbook or manga with an electronic copy so you don't have to open the package to read it, but can still have the "mint condition" collectible.
And, btw, I don't live in Walla Walla (or any of the other towns mentioned) but there are a couple of high quality private colleges in or near town, and that might be a good reason for a bookstore general enough to also sell ebooks.