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In your position, I'd be taking a look at tablet pc's - probably older models, as they should be discounted and it doesn't need the latest CPUs, etc for annotation, etc.
You're not going to find anything other than the irex's in the ebook reader line that are going to be anywhere near what you want for the annotation side of things, and even the reading of text books isn't going to be all that good on the smaller screened devices. The Kindle DX might be OK for your reading requirements, but it's not going to be anywhere regarding the annotations, as I understand it, so I suspect you need to look at the alternatives for the next year or two, at least!
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