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In my own experience (2 PDAs with transflective screens) there is no comparison between using E-ink outside and using a transflective screen. Both my iPaq and my Palm are hard to read outside. It's possible, especially with the Palm with the backlight off, but I find it hard to focus and generally not worth the effort.
My Sony is much more readable outside, though I admit the lack of a backlight can be an issue at night.
This is where the iPhone/Kindle combo really comes into its own (at least with Amazon-purchased books) you can use E-Ink when you have light, and transflective when you don't and your books stay synchronized.
Right now I don't think there's any device that really does what you're looking for.
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