The Borders price cut isn't really a price cut, though. Borders has sold the Kobo at $19 with $20 store credit since the day of launch.
Still, advertising a lower price is a rather good idea. The Kobo is a very nice device -- simple, attractive, easy to use, easy to purchase for. But at $10 less than Kindle 3 WiFi it's attributes are slight -- but they number native ePub and library access.
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