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I agree that other devices are probably better at browsing than this one, but when looking at any of these devices you must consider the whole package. For a book reader, this device is superior. For reading on the internet, including checking email, it is fine--and cheap--compared to the alternatives.
Of course, if you are already paying for a cell internet plan and have purchased a netbook, then you may not need this device. If, however, you have a regular cell phone on a cheap plan and have not yet discovered what you need a netbook for, this device is an excellent option.
I think I'm conservative about books. As a researcher, although I use sources like Google Book Search and ebrary time to time and Adobe Reader almost every day, I like reading my books from hard copies. I have never read a whole book neither on Google nor on ebrary, and I use Adobe Reader almost for scientific papers only. They all are great for reading on the screen; easy to eye, useful with navigational bookmarks, TOCs, CTRL+F functionality etc. But they are not going to replace my hard copies anytime soon :)
Also, I don't think e-book readers like Kindle is for suitable for every reader. It should be really hard to read a technical book on Kindle and I don't think "16 shades of gray" would be sufficient for an illustration showing an anatomical dissecting.
Yes, Amazon paying the bill for the connectivity is a great feature, I totally agree. Actually it could be the only reason for me to buy one of these, if a hacker can find a way to use it as a 3G modem for my netbook someday :)
There has been some changes on that actually. Because Authors Guild of America pressed so hard, text-to-speech is now optional and won't be available for every book you buy.