Desertgrandma--
You can check out NYPL's selection for yourself at:
http://ebooks.nypl.org/AF92303A-7688...en/Default.htm
For my reading interests, they have a great selection of Adobe Digital Editions; Mobipocket books, and Audio books for download. I feel my money was well spent. even though I have access to my local library's (Sacramento, CA) collection, it's no where near as extensive as NYPL's.
Regarding wait times, I have had to wait for a few books, but not too long so far.
dordale