My mom got a Kindle not to long ago and I had a chance to check it out during our Xmas visit. I was impressed with how light it was and the e-ink is really crisp, no backlighting is easy on the eyes as well. But the single most important thing was the enthusiastic endorsement from my mom. She is a lifetime reader and a recently retired librarian (way to go mom!). If someone who has spent their life around books likes it, I had to take notice. I'll do a more in depth review once I have a chance to really get a feel for it.
A few obvious CONS to owning and using a Kindle:
1. No sharing allowed. I think DRM is phony and completely unnecessary. Concurrent with my new Kindle ownership is research into how to strip DRM from e-books. I'll keep you posted.
2. Kindle's are made of plastic, tons of other nasty chemicals, and use a battery/electricity therefore this little gadget is not PC.
3. It is yet another expensive piece of stuff you lug around and stress out about. If your book gets stolen, oh well. If your kindle gets stolen, freak out! And don't drop it in the tub...
4. No page numbers? WTF!
I'm sure I could go on and on but the fact still remains that I love this thing. Reading!