I've had a Kindle for a couple of months now and my reactions largely follow James Fallows' first impressions right down to the fact that at this point I've become very attached to my Kindle and don't want to give it up, but at the same time have no intention of eschewing traditional books entirely.

One added observation, however, would be that the Kindle actually suffers from several ridiculous flaws. James refers to the inability to "flip" multiple pages at a time. It also doesn't let you cross-reference Kindle "locations" with brick-and-mortar page numbers. And you can only highlight whole lines at a time rather than starting with specific words. There are various other things like that. They're annoying. But at the same time, these are problems that I'm sure have solutions. When the basic technology of the Kindle Reader and Kindle Store are married to a design team (either at Amazon or at a competing firm like Apple) that's somewhat better at thinking this stuff through then I think you'll have a product a lot of people want to buy.