I don't think the Cybook Gen3 is a worthy replacement for the Sony. I also don't think the iRex iLiad is either.
What I think would be a worthy replacement is one that has a Vizplex (16-shade) screen at 9" (hi-res) with the iLiad resolution, supports ALL DRM formats and non-DRM formats, costs $300 at most and just setup to read books. Not some do it all device. There can be a second version of this device that's setup for doing a lot more. And for the do it all version, allow a mouse and a kyboard to be plugged in as well as the touch screen.
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