I've got to agree with Kaz on this one. I love my Pre. It's the one device that could inspire the geek in me more than the Kindle.
To be honest, I've got mixed feelings about eReader on the Pre. It'd be nice to carry around books on a phone again, I guess (like I did with my Centro for a while), but the screen is really nothing I'd want to read off of for a longish period of time, simply because of the size and the backlight.
On the other hand, the Pre would be perfect for reading HTML and TXT files, given that apps are written in HTML, Javascript and CSS anyway. Add in a way to read PRC, and you've got a contender.