jdrakeh
Front Range Warlock
The trouble with netbooks - apart from the battery life - is that the screen size/resolution doesn't suit pdfs at all well. I can't stand having to scroll left to right to read pdfs!
The resolution issue is actually a much bigger problem with phones and PDAs. The 8.9" screen on the smallest netbooks is about three times as large as the average phone/PDA display — and 3" larger than the display of some readers.
I can see an entire Windows XP (home) desktop on my Aspire One, which supports resolution up to 1024 x 600 on its native screen. I'm unaware of any phone or PDA (save for true UMPCs) that supports such high resolution, and readers certainly don't do it.
If you're seriously considering things like the Kindle, you'd be remiss to dismiss netbooks based on resolution as the resolution of most netbooks blows away that offered by pretty much all of the other devices mentioned in this thread.
As for battery life. . . yeah, that's an issue. Only the Eee PC has battery life comparable to that of a reader or PDA, and even then, only with a six cell battery. My Aspire can go for roughly four hours on such a battery, while the Eee PC can go roughly six.