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Go with either the Kindle or the iPad. I previously owned a Sony Pocket Reader and used it to read news downloaded from Calibre. There are two problems though with doing this. First, you'll find that many news articles downloaded are incomplete. I would assume that this is due to the fact that Calibre basically pulls html from websites and links are not processed correctly. Second, since the Sony Pocket Reader does not offer wireless you have to plug it into your computer. For me this became an inconvenience. So I recommend at least purchasing a wireless device. One key advantage of the Kindle is that you get free 3G. For that you'll pay a premium with the iPad.
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