Anything is possible with Android. Take for instance my $80 3G GoPhone I bought in April (Now less than $50 refurbished). Came with 2.3 Gingerbread, didn't have Live Wallpaper support, and was slow, slow, slow, slow.
Now I have Jelly Bean 4.2, I just finished swiping out the Roboto fonts for the new smoother 4.3 versions that just leaked. I'm also running all the new Google Experience device goodies like the Sunbeam live wallpaper, the camera (which adds so much use to the crappy 3MP one on here), and the new bootanimation.
It's also overclocked, and I still get three day battery life from it. Plus, a majority of games work on it, even the ones made for higher end phones. The only thing is that a select few don't work on the 3.5" screen, but then I also have the Steam version, so that's alright.
If you can get the right people working on it, lots of things are possible.
Optimize this reader for things like Readability, Pocket, Moon Reader, Flipboard, Feedly, and you have it good.
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