1. I think they need to keep the location numbers. location X out of Y, possibly with a progress bar. they need this for academic reference.
2. and I think they could do dynamic page numbers based on the font size... screen X of Y. this could be a user options. i guess it shouldn't be that difficult to calculate and display either.
3. if they really want to be ambitious they could continue to do the corresponding physical page numbers, as they do with some books. this is the best overall but takes the most effort. because physical page sizes differ, it is also not perfect though.
I am actually fine with option 1. I just use the following formula:
location number / 20= page number
This is about 2 kindle screen turns.
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