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I bought a Kindle and like it just fine (I have version 1) so you may want to take my point of view with a grain of salt. IF I had to pick disadvantages they would be:
No folders. You can arrange your content by title or by author, and go to a particular page (if you know the book you want is about on page 7 of your home screen, for instance) or to a particular starting letter of the title or author, but you *can't* have a folder of "neat books about elephants" or "books Mom recommended" or the like.
DRM. My books work seamlessly now but if Amazon abandons the Kindle, I have to learn to crack the DRM to use them on another machine when my Kindle dies. That's illegal, plus it's a lot of trouble. I'm hoping it won't be an issue. We'll see.
The new version doesn't take SD cards and doesn't have a user replaceable battery. I'm not very impressed with those changes.
It can only handle simple pdfs and only after translation via Amazon or an e-book program like Stanza. The more complex or larger pdfs (scientific journal articles) are problematic. But it can load non-drmed mobi books and other self-generated content after translation, which I like.
I wish you could sketch on the screen to underline and scribble comments. It does allow highlighting, but it isn't very precise, and it does allow annotation, but you have to type it in, and you can't see the annotation unless you click on it and pick "edit." I wish the annotations and text were visible at the same time, and I wish the highlighting was more precise. I understand some changes have been made to this in the Kindle 2, so maybe it's less of a problem now.
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