I decided to try the netbook as an ereader about 6 months ago and I like it. The netbook is not as light as an ebook reader, but it is light enough and it is much more versatile. Be sure to get an 8-9 hour battery pack. A touch screen would be nice.
A single purpose e-book reader would need to follow an open standard, cost less than $100, have an 8+ hour battery life to interest me.