The main reason I bought the T1 is because when I looked through the "future feature firmware request" list of things I had hoped the Kobo Touch would eventually have, I realized that the T1 already had my wish-list needs met and then some, and it was less than the cost of the Touch at the time.
Also, it works straight out of the box. I had to recently replace the T1 and this time decided to skip set-up, and just put my existing books on it. Worked like a charm.
I would hope that if the next model of Kobo ereader they put out hopes to even remotely tempt me, it would have to work so well as to make my T1 look like a cheap toy - and fresh out of the box, no silly "steps", no downloading software to make it go, just plug it in and go. For epubs, the T1 meets my personal needs best.
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