Quick, yet small, update... I'm finally getting the software to work in my English OS (I've kept notes to help others who will inevitably run into the same problem once this device becomes more mainstream), but still having a few issues.
Turns out those money-grubbing, hand-in-your-backpocket, sneaky marketing guys at Panasonic/Matsushita want you to pony-up and extra 1,480 yen for a *module* required to view PDF's on your Words Gear.

It's not enough they charge you an arm and a leg for the device and require you to encrypt whatever media you put on it, but now they want more money for something it was advertised to do when it was demo'd. Sneaky, very sneaky! Since it's not too much, I'll be picking up the module on Monday to give it a whirl, only about $11, but I'm still hot about it. grrrr...
The video mentioned earlier is nice and pretty much shows a true representation, but looks like the screens were edited in after-the-fact. Sharp screen and, so far, my manga is much easier to read on this device than the Reader (yep, even American comics though they're still a little on the small side).