I think the Sony PRS T3 is a great Reader if you're looking for an elegant solution with a case. I've always been using my Sony Reader with a case, so this is nothing new to me. Some people prefer a case so that the Reader looks and feels more like a book.
Sony is a bit conservative now with their development policy, that is right. But as you point out, paper books don't change a lot, too. And in general, the Sony Reader software works good. The Sony Reader is expensive now, that is right, too. But for me, a Reader is not a toy, I'd like to use the deveice in 10 or 15 years.
The market for Reader and Ebooks is getting smaller right now. In 2013, publishers of Ebooks and manufacturers of Portable Reader Deveices are both selling less than in 2012. Some bookstores that I've been visiting in the past days already removed Readers from their store. There has been a small boost on this market in 2012, but for now, we're over the inflection point.
Sony is very good and popular for using a Digital Library System or for working with scientific PDF books. I think if someone is looking for a mass market deveice and some entertainment, a product from Amazon would be better. And if someone wants both, you can get both.
You can use anything to look up the time. There are watches everywhere. But when you buy a wristwatch, you usually take something that works really reliable, something has a good build quality, and something that lasts longer than a year. And that's what Sony does. And that's the reason why I think the T3 is worth the 190 Euros the deveice with lighted cover costs right now. Although I'm hoping the T3 will get cheaper in the coming months.