Kindle

I've read that the hardware is a bit clunky (it's easy to accidentally turn the page while holding it), and the form of Sony Reader looks a lot nicer. However, the Kindle has the advantage of having free wi-fi, so it doesn't need to be hooked up to a computer to download a book or newspaper. I'd like one of these as well, but I'm going to wait for the next generation (and for The New Yorker to become available). I'll always want a physical book in my hands, but for newspapers and magazines I'd rather have this than cluttering my apartment and wasting paper.

Plus, while they are pricey, I think more recent books are cheaper to download than they are to pick up a physical copy. If you read enough you should have your investment back in no time.