E-Readers- What’s the deal?

I’ve asked to receive a Kindle for Christmas.  As much as I love reading books in their original paper state, it just isn’t as convenient when traveling.  And, since I do a lot of reading while traveling it seems like a good idea to bring less with me!  This summer I brought 5 books with me to Tahoe- including Breaking Dawn, talk about adding a lot of weight!

I’m pretty set on wanting the Kindle, but I’ve heard other people talking about the competition out there and was wondering if any of my readers had anything to say about it.  My best friend’s mother is worried about being able to “borrow” e-books from libraries.  Others have talked about how an iPad will let you read books and do so much more.  I know there’s the Nook and a few others.

So what do you think?  What do you use?