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I've registered both my Kindle and all Kobo readers with a legit emails. It's no different than registering to purchase books at any site to me. My only fear has been losing the ereader and having anyone then be able to buy 100s of books on my account. I'm too lazy to use a PIN to lock a reader, as often as I pick it up to read on and off all day.
So my method for my own peace of mind: the Kindle isn't used and stays home (I bought it just on a super sale to see how it is), so there's no concern about losing it/having it stolen. The Kobo was registered with a real email, but there's no payment or purchasing on the account at all other than their freebies, so again, while I'd hate to lose it, no one can make charges on the account. I prefer keeping wifi off anyway so I can choose which firmware and patches I use, but lately I've been purchasing the majority of books from Amazon.
I'm really not concerned about either company tracking what I buy or what I read or how often or whatever they want to know... every store you purchase from does that, there's no way to get around it unless you give up purchasing online. My only concern was losing a reader and having someone charge books on it.
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