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My friend has a Kindle while I bought the Kobo for the very same reasons - why pay for what you won't use? I like that the Kobo is a little smaller and is uncluttered by the keyboard at the bottom. I know that the Kindle has 16 shades of grey while the Kobo has 8 but unless I look really hard I can't tell the difference. I haven't done a side-by-side comparison but they seem comparable to me in terms of screen redraws and start time.
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