I am under the impression that the Kobo's formatting is really good, but that you can already format anything with Calibre. I'm also thinking that amazon firmware is more mature, but it's up for debate.
The advantage of the h2o is its screen so I could read my Manga without zooming. There is also availability. I'm really tempted by the Kobo, as I could get it for 130 right now, but the voyage seems to have much more functionality. (outside formatting)
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