I did exactly that. Upgraded from my PW1 to the Voyage.
I would say yes, with some reservations.
1) I received around $64 for my PW1 from Amazon, which I was happy with.
2) I got $40 credit for renewing Prime at the same time (which I would have done anyway).
The Kindle Voyage is a nice device and has some UI features that the PW1 has yet to receive.
But it is way too expensive. They are charging a premium price for mid-level features.
For that price, I would have expected a little larger screen, faster speeds, updated UI (still looks like the one I was using on my PW1), better Web experience.
I noticed the higher resolution but it is minimal to me. My Kindle 3 3G (which I still own) text still looks pin sharp to me.
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