It's not like me not to embrace new technology, but, what is wrong with a good old fashioned paperback? I really don't get the purpose of an E-reader.
As Leo said, space conservation is one benefit, as is picking up instantly where you left off.
Diane and I have his and her Kindles and the paper books are rapidly disappearing from our truck. A good-size cabinet that used to hold books will be nearly empty after we get home for Christmas. It is just too easy to use the Kindle.
Example: We are at a pick up and the shipper says it will be 30 minutes before the freight is ready.
Old Way: Think about what I might want to read and then overcome inertia to dig the book or magazine out of the sleeper to start reading it.
New Way: Pick up the lightweight Kindle which is never far from reach and then think about what you might read. Turn it on, press "Home" to see what all you have on it.
Maybe I feel like reading about business. Go to the magazine I subscribe to and it will open instantly to where I left off when I last looked at the magazine. If I feel instead like reading a little Sherlock Holmes, go to that book and the Kindle will again take me to exactly where I left off.
I don't look for books and magazines to read any more. I read my Kindle. Business topics, the classics, humor, the Bible...whatever my reading mood and interest at the time, it's on my Kindle.
Also note what has already been said in this thread. There are more free Kindle books available than you could read in a lifetime. Paperbacks cost money.