Kindles can read a variety of non-proprietary, non-DRM'ed formats. They read TXT, HTML, JPEG, and non-DRM Mobi files directly.
The Kindle has a built in cell receiver so that you can wirelessly browse, preview and purchase books using one-click.
Amazon can do a lot of money only from selling kindle, like Apple does with the iPod.
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.