I read pdf on a daily basis on my kindle 3 using kindlepdfreader (I think it's called koreader now). Mostly math and physics books full of formulas and graphs, and I'm very pleased with the result. Vanilla pdf support is really poor, but if you are willing to jailbreak it it's completely doable.
PS: there is a version of koreader for the paperwhite but I didn't have the chance to try it. You can see it in action in youtube or read about it in the kindle developer corner section.
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