Rekindling Reading?

Amazon just released it's new wireless reading device, the Kindle, a giant leap into the future of reading. It seems like a great device, letting one connect to a limited internet in the same way cell phones do with no monthly charge or bill whatsoever, putting over 90,000 books and newspapers from all over the world at the fingertips of its owner, and weighing only 10.3 ounces with a large memory and a long battery life. Some cons: The books are not free (our generations constant advancement in using the internet as a means for free, yet often illegal, entertainment makes me feel obligated to make note of that) they cost around $9.99 unless noted otherwise, its internet capability only allows the Kindle to connect to the Kindle Store, an assortment of blogs, Wikipedia, and receive e-mails for on-the-go viewing. With all that being said, at $400, how do I feel about the Kindle?
While it isn't the first e-book device, I do think it is the best yet. $400 is a lot but it's not an outrageous price for the Kindle and, I'm sure it will go down as time goes on. It makes sense that technology advances by making things smaller and more compact. The iPod has diminished the need for CDs, tapes, and such in the same way the Kindle diminishes the need to carry around books, magazines, and newspapers, all which can become burdensome at times. I think the product could have had more internet capabilities, so that one would not be limited to what website the go to.
Aside from actual features I have some other issues with a device like this. What does something like this say about people in general? The very act and nature of reading a newspaper especially, but books and other things as well, in the physical form is being forgotten and unappreciated. It's cliche to make note of this but true all the same: people these days no longer have time to sit and read a book, or sit and listen to a CD, or not use their cell phone in the supermarket. I'm someone who finds joy in the very act of holding a newspaper or book and turning its pages. I could totally see myself using this Kindle; I love new technology and this does seem useful when I'm traveling and out of reach of something I'd like to read. But something just seems misguided about it. Yet at the same time I'm also pushed to say "It's human nature to try and improve what we already have (i.e. paper)". If we weren't to, then we would be no different than our very first ancestors. So yea, I think it's cool and practical, but for now I'm just not ready to leave the physical reading experience forgotten.