Hi Martin,
First of all, there are lots of DRM-free eBooks you can get. If you like SF/Fantasy, Baen publish all their books DRM-free. Fictionwise also have a very wide range of more general books (mostly older books) and magazines which are DRM-free.
Most "big name" books, however, are DRM protected. The iLiad has a reader for MobiPocket books which have a pretty good and "easy-going" DRM system. Each device with MobiPocket reader has a unique ID which you enter at the site selling the book. You then get a book "locked" to that device. You can, however, enter IDs for up to 4 devices and the book will work on all those, so it's not a problem for you and your wife each to have a device - you could read on an iLiad and your wife on a Pocket PC, for example, and you can share books. If you get a new device, you need to go back to the site you bought it from, enter your new device ID, and re-download the book.
No "expiry" of eBooks; the only issue is if, for example, the seller goes out of business so you can no longer download the books for a new device.
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