Boy, do you have my number.
You can probably run Mobipocket MSReader, and uBook. But there isn't an FBReader for WinCE. I also doubt that you will be able to run Windows Mobile software on it; most of the software requires DLL support that this PDA can't provide.
You might not like the screen resolution. It will probably be 480 by 272. In comparison, the Nokia 770 has a resolution of 800 by 480.