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I got a Sony 505 for about $300USD last Christmas and I've been very happy with it.
But it's not good with pdf files. PDF's can sometimes be converted to a format the Sony is happy with. But if your pdf has footnotes or tables or illustrations or similar stuff that text books have, you'll be disappointed. I still read a lot of pdf books on my desktop computer rather than my Sony reader. Apparently the iLiad does better.
obzenic - I don't know why you're insisting on e-ink.
If you can live without e-ink, a cheapie laptop would be more flexible and more useful for a student. The Asus eee is now being sold for under $400. I've got one of those - it's rugged, small, has wi-fi and you can beef it up with more RAM and a big memory card and Win XP. You can read any format Windows can handle. You can also edit, take notes, print, email, etc - stuff you can't do on a Sony Reader.
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