Hi - When I'm actually doing research I agree the laptop is essential. But for reading/noting files from others, articles and transcribed documents (like Quaker Meeting records), I see the iLiad as a way to carry around mountains of paper for access where ever I might be. I'll let you know how it works out.
As for actually reading - I will include a few of my favorite books on the iLiad, but I'm addicted books on an MP3 so I can stitch or do something else at the same time.