It seems like nearly everyone on the planet has a cell phone these days, so I think it's reasonable that many people will be happy enough to read on them, but I'm with rhadin on hating cell phones (and TVs). I have a low-end cell phone that works on pre-paid cards, but it's out of minutes at the moment and has become deactivated through lack of use. I tried an auto-renew plan that was supposed to re-activate the phone each month for a low fee, but since I don't have the phone turned on, the particular day it wants to reactivate comes and goes and I still don't have an active phone. Other family members seem upset by the fact that I'm not easily on call. (To me, this seems like a good argument against getting the phone reactivated.)
All that being said, I wouldn't mind an all-in-one device. In fact, I miss using my Apple Newton for that purpose. But it didn't sync with my work calendar (viewable by my coworkers for the purpose of scheduling meetings), so I switched to a Palm Pilot... which is out of batteries at the moment and has been for quite a while.
On the other hand, my iLiad is always charged up and in use nearly every day.