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The Kobo WiFi is a decent basic reader, an improvement over the Original Kobo -- not least because it has a faster processor. The unit appears to be in production still.
Because the Kobo WiFi can stay synced with the "Kobo Cloud", it's available for me as backup (like if the Kobo Touch battery runs down), or so another member of the family can be reading from our library simultaneously.
However, if the Kobo Touch is available, it's worth the extra $40. It has the Pearl eInk screen for one thing; and considerably more flexibility in fonts, page display, etc.
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