Aldiko works nice for DRM free ePub's, FBReaderJ is popular too.
AFAIK right now there isn't a reader that supports DRM'd ePub although Overdrive is supposed to be coming out with one.
I've got the beta of the Kobo reader on my Hero right now. I suppose if you have a lot of books from Kobo it's not terrible, but I don't like it much.
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