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If you just wish to read EPUB and MOBI files, then i don't think that CPU or RAM will matter that much. We have always read that in eReaders,the slow refresh rate of E-Ink screens is the bottleneck.
I have i86 (1GB Ram) as my primary device and i was able to compare it with M96 (512MB Ram version) and my conclusions were that RAM doesn't matter that much. Both devices were of equal speed.
The screen quality should be your primary concern. My primary requirement was getting A2 mode to work
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