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First of all as the popularity of Project Guttenberg, of free online data that in the past would have been read in encyclopedias and reference books, as well the existence of massive underground libraries with easily tens of thousands of titles shows, the not succesful part applies to commercial e-books.
The main reason for this failure is that big publishers and distributors like it that way since they do not want e-books to compete with print ones. Since there is yet no powerful external force to push them into online content as music/movies were by mp3's and broadband, why should we be surprised of the unbelievable high prices and onerous drm on most commercial e-books. No ereader devices will change that.
Liviu
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