Non-DRM Mobi books, like free e-books found online in Mobi format, or files you convert to Mobi files, are already supported on Kindle.
Devices like the Sony Reader, Cybook, and Kindle DO NOT have glowing LCD screens.
Typically ebook readers are larger than PMP's with larger screens. If you're going to read for a few hours, then the screen of a typical PMP becomes pretty eye-straining (due to size, contrast, and brightness).
Being at home on a rainy day, but wanting to read some new novel that just came out, you can have it in seconds. This concept (not hobbled by DRM) is pretty damned liberating.
A revolutionary portable reader that wirelessly downloads books, newspapers, magazines and blogs to a crisp, high-resolution electronic paper display that looks and reads like real paper, even in bright sunlight.