I agree with Quoth here. The Elipsa is a great size for reading PDFs, and works well with Adobe, but the Kobo out-of-the-box PDF viewer is not useable for serious reading. I've found installing KOReader to be simple and it's more pleasant to use. You may want to explore whether the Elipsa can connect to your campus wifi, as Kobo's connection options don't work with some eduroam setups. That need not be a dealbreaker though.
I have found the notetaking a bit clunky, but useful for occasions where I don't want to be distracted by a laptop.
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