Sony Reader Wi-Fi PRS-T1BC (black)

Pros: Comes with built-in touchscreen and wifi, excellent battery life, MicroSD card slot. Public library ebook access. Slim design and very lightweight, so you can hold it for hours of reading w/o it feeling heavy. Yet very rigid and solid construction.

Cons: None that I can think of or have come across yet.

Summary: With the touchscreen, you can actually write handwritten notes onto the pages themselves and erase them later on just by swiping across any marks you've made. You can highlight words, sentences, or paragraphs. Or if there's a word you don't know the meaning of, just touch it and the definition pops up at the bottom of the page. Plus, you can tap the top right corner of the page, which digitally folds the corner to keep your place in your ebook. You can also go in and change the size of the text or change the font. However, I've noticed that this tends to reset back to the default after I've connected to my laptop. Which gets annoying having to go back and set it again afterwards.
Using the wifi, you can go directly to public libraries and check out ebooks (if you have a library card), or go pick out from ebooks offered for free online, and you can access the eReader store to buy ebooks directly from there and download them w/o having to hook up directly to a computer.
It also has a built in mp3 player, so you can listen to some music while reading. Which is great if you wanna drown out any distractions around you. It comes with 1GB of memory, but also has a MicroSD card slot to carry even more ebooks and/or music with you wherever you go.
The refreshing of the page can get a little annoying when online, but while reading, it's not really that noticeable. I find it much better than having to hold open a paperback book and turning the pages as you read. It's much better being able to just push a button or swipe your finger to go to the next page.
The only issue that I had isn't exclusive to just Sony, but with all the different brands, (Apple, Amazon, Barnes & Noble, and Sony). Which is that when you pay for an ebook, you're not actually buying the ebook. You're paying for a license to the ebook instead, and each different brand is basically incompatible with each other. Unless it is in the ePub format, I think. But, once you've paid for the license to the ebook, you can go back and re-download it back to your eReader as often as needed.
In conclusion, I'm very happy with my Sony eReader. I already have many hardback and paperback books in my library, but with my eReader, I can take my entire ebook library with me wherever I go.