We don't yet know what the new Kindle will do - but I think it is pretty safe to assume that we will not see folder management and direct non-DRM support. Where did you read about PDF support? If there is a conversion step involved, I don't really think its the same thing.
Edit: Hmm... The rumor mill suggests that there really is a built-in PDF viewer.
Of course, the new Kindle might throw in some internets, which is neat

Price wise, if it really is twice the "baby" kindle ($370), it isn't really beating the iRex iLiad/DR there.
Edit: At $489 though, its a different story.