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My reason for potentially buying the Sony Reader: usability / size, battery life, and price.
Usability: The Sony is smaller and lighter. I assume the screen is sufficiently large enough to display standard content (I am more interested in reading fiction/non-fiction without complex column layout).
Battery Life: Thanks to Henrique we know that the iRex still needs a lot of software tweaking to improve battery life. Right now it's not any better than my old PDA with its LCD screen. The Sony Reader, on the other hand, is thanks to its less-demanding hardware (no WiFi, smaller screen) hopefully closer to being energy efficiency as advertised by e-paper companies.
Price: The euro is relatively strong versus the dollar. So, assuming the Sony Reader will cost $350, it'll be almost half the price of the iLiad.
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