I bought a Kobo Touch and have been reading the O'Reilly book 'The Tangled Web' by Michal Zalewski (which, funny enough, is about web standards etc).
It doesn't perform well at all.
* Preprocessing gets stuck at 9% (when you first load the book onto the device)
* Selecting the book from the main screen takes maybe a minute or more for the book to actually load.
* Margin/font size changes on the Kobo more or less freeze the device.
* Changing location in the book using the slider looks like it freezes the device as well, but if you leave it long enough it will change the page, I guess.
* Paging through chapters is quite slow and doesn't actually turn the page with out ANOTHER page turn tap. So it progresses two pages, and I have to turn back one. This happens with out fail on all chapters.
Is this because the Kobo firmware is rubbish? Checking out the files in a text editor shows they aren't THAT big, maybe 20kb each.