I had been lurking around, waiting for a good deal. When I saw the Reader at $50 I jumped on it. But then I started reading a bit more in the forum. My Reader is ordered. I doubt I will keep it. My plan right now is to sell it and then immediately buy a Nokia 770. I have no doubt that the Reader is better for reading books. That's fine. Many feel that the N770 is perfectly adequate despite not having the E-Ink display. Here's the factors that won me over. I'm a casual reader but I still like to take notes. With the N770 you can scribble something with the stylus and save it as .png file. A major factor for me is getting access to .pdf files. The N770 has a pdf reader so you won't have to convert and that reader might allow you to make notation in the text. I don't know for sure if the pdf reader will allow you to make searches but I believe that it does. The email feature is of little interest to me but it is nice. More important is that the N770 runs on Linux and is very hackable. Quite a bit of work has been done on ways to enhance it's capabilities: swap on RAM from a memory card to increase the device memory, the ability to use phones with data plans as modems, access to external memory devices through USB, and most impressively, it can be used with a cheap GPS unit to provide driving directions. Reportedly the N770 running the open source program will be just as effective in giving directions as the units costing a few hundred dollars.
Take a look
here, to see what they can do.