I'm pretty surprised at the level of negative opinion here too.
I use my iLiad a *lot* every day. It has improved considerably via the updates over the four months (not a long time really) I've had it. It's not perfect, but it's great for what it is designed to do - reading books and documents. I'm looking forward to more improvements.
People have different priorities. DRM protected books isn't one of mine. But if it doesn't have a feature you want, that doesn't make it a bad or failed device.
I don't see any other product on the market that can give me what I want in an e-reader - decent sized e-ink screen - annotation - and wifi connectivity.
And once iRex pull their fingers out and give us the SDK things will get even more interesting.