Personally, I prefer that the Kobo Touch would put much less emphasis on things like tracking reading stats & awards and social media, and place much more emphasis on a usable library sytem where I can quickly and easily find my books.

I'm leaning toward retuning my Kobo Touch before the 30 day return policy and taking a wait and see attitude over the next few months. I'll probably wait until the release of 1.9.6 before deciding whether to return though. I think the KT can eventually be a great ereader, but it has a long ways to go to get there. The main issue for me is the segregation of features and rendering between kePubs and ePubs. It is arrogant and unnecessary in my opinion. They should treat and render all epubs equally. That is, do away with the dual reader-engine philosophy. The good news is that they seem to be making improvements. The bad news is that they are far from having an elegant and intuitive UI like Kindles do. And with the very recent (but unconfirmed) announcement in the Wall Street Journal of a touchscreen Kindle to be released in the third quarter, and we are in the third quarter BTW, I think it best to step back and let the dust settle before deciding on whether to own a KT.

EDIT: Here is the link to the WSJ article. It mostly talks about the upcoming Amazon tablet, but far down it mentions a rumored touchscreen Kindle coming soon. As far as I'm concerned it is still just a rumor at this point, but Amazon did announce the Kindle 3 about this time last year, so who knows.