I read whitepapers on my iLiad. My eyesight is starting to give me a few issues (mostly my arms are getting too short), but I find that if I take my glasses off I can still read an 8.5 x 11" PDF on the iLiad. If you've got really good eyesight, I'd say this won't be a problem for you.
I almost never use the notetaking ability of the iLiad. This is probably due in large part to the fact that I have a Tablet PC and use Evernote for my notes. I really don't want to spread out onto another device. The few times I did use it for notes tho, I became mildly frustrated at the lag and imprecision created by said lag. I wouldn't buy the iLiad for it's note taking ability; it's nice to have on occasion, but for everyday use I consider it too slow.
My main use 90+% is for reading fiction work.
If you can afford a few hundred dollars, it's likely you'll be able to sell an iLiad for a decent price used once the Astak comes out. You won't need to consider it $700 lost; maybe $300. If it's worth that to you to be able to read PDFs between now and when the Astak is released, then I'd say go for it.
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