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As long as your Cybook still works, I would try to stretch it until next winter. My guess is that you will see many new announcements over the next nine months or so and the ebook world will look quite different by then. Unfortunately, my Cybook broke and I went for the Kindle2.
Ditto on pdurrant's comments on only one company making eink. There are finally some reasonable alternatives arriving, but who knows how long and whether any of them are vapor ware. I expect the next year to bring bigger form iphone/itouch units and I don't expect them to use e-ink because they'll want more interactive screens for video and applications. Hopefully, we will also see new screens from PixelQi in the next six to nine months. Ejatco is pushing the non-backlit LCD option. Others are talking about OLED and Bridgestone's tech is moving forward (although I forecast they are at least 18 months from consumer products -- more like 2-3 years). Also Fujitsu. Likewise, the dying newspapers are looking at the market, and Barnes and Noble is expected to make a big splash.
I hope that all of these come true because they can lead to feature and price competition. I know all of the advantages of e-ink (I have purchased two of them); however, when you compare the cost of an e-ink device versus the ipod touch the reader price point just does not make sense. Even if you still want an e-ink device, I hope competition will bring the prices down.
As I said, many of these introductions will take several years, but I expect enough change over the next six to nine months to make it worth waiting.
I am a heavy ebook user also (like you are). If someone else read's this who does not have anything today, I would urge them to take the plunge -- there will always be new stuff around the corner. My advice on a delay is only because your Cybook is still creaking along.
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