I have the Barnes and Noble Nook and what I like about it is it's great contrast, one of the best if not the best in business. E-pub format supported, styling, color touchscreen navigation (give you a more of a "now" technology as oppposed to the others) displays color book cover art, plus it does have a fun factor to it. Replacable battery, micro sd slot. wireless downloading via wi fi and 3G (this is ne feature that you may not think is all that big of a deal but once you have it and are able to download books in seconds without having to hook it up to your computer pretty much no matter where you are, you'll find yourself you can't go back.
After the v1.3 update the nook is really running nice and smooth, great refresh rate on page turning.
Battery life can be really good when wi fi and 3G off.
I love the instore features, ( read any book for an hour, More inStore (coupons, special deals only for Nook owners, StarBucks Cafe freebies) Free Friday's (every Friday they send out a free book)
In store support, something is wrong or don't understand you bring it in to any Barnes and Noble and you'll get support and if need be will replace right there on the spot. That is a sweet perk.
Love Barnes and Noble as the book platform but also due to the fact it supports e-Pub so you can pretty much shop anywhere including your local library.
Did I mention the styling
It really is a gorgous device.
Well anywho that's my 2 cents I think it's a great choice,( I love mine) fits your budget and needs especially with the touchscreen navigation and wi fi and plus right now you can get a Free $50 Gift Card with a Nook purchase.
So $259 + $50 Gift card, pretty sweet.
Good luck