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I don't own an Elipsa but a legal firm for which I do some consulting has purchased 10 of them, partly to replace some of their older Sony DPT's and partly to add new devices. So far they seem very happy with them for reading/marking up corporate PDFs in meeting and courtroom use.
They also evaluated a couple of other 10" units and found the Elipsa for them was the best mix of usability, price and battery life. While recharging your device in a meeting might fly, judges tend to be fussy about electronic devices being used in court.
Very few ereaders reflow PDFs since PDF is a page oriented format. This contrasts to most other ebook formats which are reflowable.
As for connection to German libraries? That I don't know about. For German bookshops, as long as they either have no DRM or use Adobe DRM, you should be able to use them.
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