Hi Twee,
It has rudimentary internet access, so I can do a few limited things, such as browse the Amazon Kindle store for new books - an iPad it ain't.
Plus, it can read PDFs, my other half puts work stuff onto it to browse or refer to.
It's very intuitive to use and light enough to hold in one hand (which is great if you combine cooking and reading like I do). Apparently you can even get protective slips so that you can safely read it in the bath. It is also charming - it finds images from the books you have stored and uses them as a sort of screensaver when you're not using it (it doesn't power down - it simply works by creating fresh pages using electronic ink, which is very clever).
Because it creates temporary but actual pages rather than show you a screen, it's also very easy to read for long periods.
PLUS, you can pose with it on the train because no one knows you're actually reading Harry Potter :)
Cheers,
Felicity