I use Nokia 770 exclusively as an ebook reader (with Fbreader) and I think the 800 version is tilted towards improving the Net experience so it does not tempt me.
I like my Ebk1150 but I really love my Nokia, I take it everywhere with me and the reading experience is really beautiful (as with all software e.g. Adobe, MsLit, uBook, that allows it, I use yellow text on black background).
Fbreader can read unencrypted mobi say from Fictionwise, opf (the output of conversion from MsLit), and txt/rtf/html, lots of character sets, also zipped or tar, though not rar, so using zipped files you increase considerably your storage (have rs-mmc 1Gb, not sure if 2Gb works).
The downsides are navigation which is ok but unpaginated just with an indicator bar, and fragility, so for rereads, short story colections, Eb1150 is better. At home I split my reading between the two, overall I estimate I use Nokia 65%, Ebk 35% for my ereading (hard to count but in 2006 I estimate more than 100 new novels or equivalent in short story colections/magazines and about similar rereads in eform)
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