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The library features are very important to me (and in some ways I still prefer the Stanza way) but it's kind of ridiculous to complain about limitations on what is essentially a trial version. Even with a one book limit it should be obvious that it's worth the full price and then it doesn't matter. I would have been tempted to put a big banner ad above the app display instead and leave the rest of the app intact, that way it's annoying enough any serious reader would pay to get rid of it and he'd make something from people who don't pay.
It's unfortunate that people have been conditioned to believe $5 is a lot to spend on software when really it's very inexpensive. It probably doesn't help that iPhone users are charged while iPad users aren't (which might lead to expectations the iPhone app will go free too), but that's another thread and ultimately Kris's decision.
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