The Kindle has many flaws, but it does allow you to read a few different non-DRM formats.
The Kindle is already able to read more than just Amazon DRMed content, it can handle a number of formats.
Ebook readers have extremely high contrast/readability and are extremely energy-efficient, being able to display several thousand pages of material without needing to recharge. eBooks are a narrow product, but they have their own ways in which PMPs cannot compete.
Granted the PDF converter seems to have some trouble with graphics PDF's, but for books the converter works very well.
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.