Well I keep coming back to here to see if there's an update (better than going to Bookeen 'cos I'll also find out if it works!), and kind of tire of reading these endless threads of speculation.
But a friend of mine just got a Cool-er reader
http://www.coolreaders.com/ which is based on exactly the same hardware as the Gen 3 and currently comes with support for DRM ePub and non DRM mobi out of the box, has folder views and all. It appears to come from a US manufacturer.
Probably slightly off topic, but if a product released on the same platform a few months ago has better functionality than one two years old I have to worry about motivation on the part of Bookeen.
I did wonder about the possibility of firmware working across platforms but as the key sequence to initiate the firmware update is different points to a different bios. Strangely the last cybook update was about 6meg, the cool-er one is over 100meg.