A Windows Smartphone will give you by far the widest range of reading applications, and will allow you to read ANY eBook format. The issue for me, though, has always been that I want a larger screen for reading on than I want to carry around as a phone.
I have an HTC Touch on which I run MobiPocket Reader. It's fine for occasional reading, but I don't think I'd want to use it as my primary book reader.
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