You can access both the Fictionwise and the eReader bookshelves from within the ereader application so long as you use different login/password combos.
I've had problems downloading my ereader books from the Fictionwise account but had zero problems doing so with eReader.
Last night, while it took several hours and 5 attempts, I was able to purchase a book from the ereader.com site and then download it from within the ereader application - all from the iPhone.
I wasn't sure if the ereader.com site was just being hammered by traffic but it error'ed out 4 times in my attempts to make a purchase. It was super frustrating. I don't see it being a Kindle killer yet.
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