After narrowing it down to a choice between the Sony Touch and the Iriver Story, I have just bought the Iriver, and so far, so good.
I like the fact that you can buy e-books from a variety of publishers and read them on this machine, rather than being tied to a specific (supported) publisher.
The delay when changing a page is not too drastic, and the all-black intermediate screen is not particularly distracting. The text is readable (you can not change the depth of tone), but even using the zoom key, the letters still seem very small if the file does not allow for reflow.
I do agree with some of the points that the other reviewer's have made, including:
I would have liked a printed instruction manual included as you can not read a page in the manual at the same time as carring out the instructions! Also you have to move through the 50 page manual to find the part you are interested in each time (not particularly a quick operation even when you hold down the </> keys as this can be a little hit and miss).
The page in the instruction manual that details how to download from your computer is not clear, as it shows what appears to be part of a screen dump (tiny picture) and states you need to copy, click and drag your required file, but not where too. I am not computer illiterate, but it did take me a while to figure it out. If the manufacturer felt it necessary to give clear instructions on how to change a page (and they do, despite the fact if you could not navigate between the pages you would not be reading the instructions on how to!), they should give detailed instructions on performing the more complex actions such as downloading onto the machine.
The manual tells you to download Iriver plus4 software (for music files) from the Iriver web site, but this web site is awfull. To download from the site you need to log in, but so far I can not find any way of creating a log-in account.
I have found that when I connect to the computer through the USB cable that the Icon for the ereader does not always appear in 'My Compter' and I have to disconnect and try again.
Having said all that, this reader does what I bought it for - it allows me to read e-books away from the computer. So overall, a positive review.