I have owned the Kindle 2 (returned...the screen was murky, greenish with terrible contrast) and currently own two Kindle 1's. The K1 screen is quite nice and very readable.
BUT...my new PSR-300 screen is in another league. This is as paper white as I could ever hope for on an ereader. Also the sharpness of the text is significantly better than the K1.
Plus the Sony does a great job with two, out of print pdf books I have. The K1 conversion mangles the text.
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