Are eReaders an improved User Experience over traditional books, or a regression?

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I have spent the past year studying various devices which have "eReading" capabilities, and in various markets (casual reading, education, etc) such as:

1. Amazon Kindle (casual)

2. Apple iPad (tablet computer)

3. "Kno" (interactive textbooks)

...and yet, I have wondered:"Are these devices making life better? Is it easier to read with an eReader, or is the entire reading experience hindered by the clunky devices?

So I ask you... although these devices increase our access to data, make our lives more compact and more digital... are these devices actually a physical improvement over the book / magazine / textbook USER EXPERIENCE?"


What do you think? 


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