I was an early adopter of Sony's Reader product -- an "electronic book" with a really great screen and long battery life. It had a few technical problems (slow page turning, the buttons were all in pretty much the worst possible position, no light for night reading), but mostly it suffered from the same problems as all e-book readers: Lack of content.
So now we have the new Amazon Kindle, which is more expensive, bigger, and clunkier than the Sony (and by the way, there is a new Sony Reader that has the buttons in the right places and is even thinner and lighter than the original, but still no light). Amazon's Kindle also has no light, but it does have high-speed, always-on wireless access (that you don't have to pay a monthly fee for, so that makes up for some of the device's high initial price), so basically, it might succeed in the content wars, giving you easy access to always-up-to-date newspapers, blogs, and even Wikipedia ... which isn't quite the Hitchhiker's Guide to the Galaxy, but with this device, we're stepping in the right direction!
But come on, Amazon, have you even SEEN an iPod, or the new Sony Reader for that matter? The Kindle is about as appealing visually as a pile of actual kindling (and in the end, will probably be less useful). Still, if someone wants to get me one, I'll put it on my wishlist and if I get it, I'll be putting my Sony Reader on ebay.