cybook rocks! it's easy to use, easy to fill with books (i synch it with the mobipocket reader on my pc, but you can just drag and drop, too).
there are tens of thousands of books to read on it that don't require reformatting, plus all the books at several stores, although reformatting is VERY easy and very fast.
no page numbers, but there's a bar that shows how far you are through the book, and - as DDHarriman says - each book automatically opens directly to the page you were last on. even if you've got 25 books going at once.
tons of new books at booksonboard.com and fictionwise.com plus old favorites and short stories
i love my cybook and have so much fun finding books for it, although i have more fun reading it
i DO recommend the cover - i dropped my cybook the other night and practically had a heart attack. but it fell flat on its back and the cover apparently absorbed the shock because everything works fine (thank goodness!!!)