From the research I've done I'd have to agree - the Kindle is where it's at for a normal consumer, but admittedly there's not much normal about me.
For my PDA (Cingular / AT&T 8525) I've flashed so many ROMs it's almost boring at this point so I'm pretty comfortable exploring some of the hacks I've seen for the 505 posted elsewhere on this site.
I did some ebook conversion last night from PDFs and .prc source files to .lrf with no problems. I haven't worked on anything with DRM yet, but I'll cross that bridge when I come to it. I may have some questions when I get there so I'll keep you in mind, Kingston.
Now I just have to figure out how to be patient until it arrives. /sigh.
~Shadowplay~