it might be worth a look when the price comes down.
paper books don't have drm. while making your own e-book has some advantages, drm has costs that can mean your book just stops being one. the thing is, your "kindle" (the very worst thing about it is the name) is probably only going to work with a percentage of titles, and compete with another device, in which case it might be more like betamax, (no longer an issue, but was once) or more like ntsc vs pal (still an issue) or more like dvd region coding (an evil, exploitive, pain in the ass) or more like blu-ray (remains to be seen, but terrible so far largely because of drm.)
for the few that aren't familar with drm:
http://en.wikipedia.org/wiki/Digital_rights_management
this could make paying even half as much for "kindle" not worth it, but if not for issues like that, it sounds great- i don't know anything about the actual platform, just the kind of models that companies currently work with and have before.
and of course lastly, there's a very good chance i would reject such a thing if the savings in manufacturing aren't passed on to the customer. i understand the device is paid for, but since cd's cost less than 5% of the cost of working with cassettes and cost the buyer twice as much, i wonder what the ratio is with "kindle."
even without drm, i'd be insulted, paying $10 per title. i am accustomed to giving bookstores less than that for books i can share with other people. i make exceptions for some titles that cost more, but i never intend to develop a habit for paying $10 a book, that's absurd.
also, where will people buy "used" kindle titles? i don't intend to see that institution pass. you can get a very nice mini-laptop for $400, and load it with books from the public domain, and you have other options with regards to more current titles. call me a skeptic, e-books are a good idea, i've even written one, (no drm,) and i've read several, but a good idea under the wrong conditions can be horrible.