I went and borrowed a friend's iPad for the weekend. People say don't knock it if you haven't tried it so I did. Both me and my wife had a go for a while.
It just didn't come close to eInk in reading experience. We both read about 10 hours a week each, mainly indoors, but an occasional chapters is read by the poolside in the sun.
My kids were impressed though. I promised my 7 year old daughter one for her next birthday. Hopefully the price will come down a bit in the 8 months I have left