I haven’t read a ton about the Kindle.  It seems that the hip web crowd don’t like it but the traditional media and gadget hounds are loving it.  Well, I think it is a lame and that it will be nothing like the “ipod for ebooks” as BusinessWeek suggests. Here’s why:

1. The Kindle is butt ugly.  No one wants to carry that thing around.  You won’t feel cool like you do when you have an ipod or iphone.
2. ipods let you carry around hundreds or thousands of songs.  A song takes a few minutes to listen to, so this makes sense.  The kindle lets you carry around hundreds of books, but a book takes days/weeks to read.  Why would you need hundreds of them with you at the same time?
3. you can quickly load all the music you already own onto your ipod.  You can’t put that stack of books you have been meaning to read on the kindle. 

As for me, my iphone is a pretty good ebook reader.  It comes up a few features short, but in general, its handling of pdfs is great.  Add local pdf storage and a “skip to page” feature and it would be the ebook leader without even trying.