This could work along with the in-store kiosk idea. You wouldn't have to buy a new memory card for every book. Just keep adding to the first one until full.
I still don't see much advantage over the download method except for impulse buying at a retail location, paging through a paper book and then instantly walking over to the kiosk to buy the e-book. Of course you can get the same instant gratification while browsing with a Kindle or Sony 900 in your hand.
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