I just don't think there is such thing as a 'best' reader.
I use an iPad for most magazines and to annotated PDF files (academic). Big screen and nice software for annotation (iAnnotate) make this the best choice.
I read books on a SONY PRS350. I love the fact I can hold it comfortably with one hand.
I use a SONY PRS950 for newspapers and a handful of magazines - I get the Financial Times and WSJ delivered on it, use Calibre to get Economist/Newsweek/Businessweek and few others. The screen is bigger than the 350, which is great for newspapers - and the 3g is great for delivery. Eink is more pleasant than the backlit iPad display...
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