I had the 1st Gen Kindle, then the 3rd (Kindle Keyboard) and finally the Paperwhite. I’ve loved everyone of them, but hands down my favourite is the Paperwhite. I waited a few months to get mine after the release as apparently they had some flaws with the first runs (as can be the case).
The front edge lit is a stroke of genius. I love that I can read in bed without disturbing my husband or straining my eyes. I love that I can go on a beach vacation and bring 300 books with me so I’ll always have something I want to read and it takes up less room than one regular mass market paperback.
There are things that require getting used to. Some are “issues” with all Kindles, some exclusive to the Paperwhite. The page “turn” (or flash) is a bit different than a regular paper book, but after about an hour (or less), you forget about it and it becomes just as natural.
They really don’t have a good way of organizing your books. Introducing collections was a definite step in the right direction, but they are still a pain to set up initially and maneuvering from book to book isn’t as intuitive as I feel it could be.
For the Paperwhite, because it’s front lit with four small LEDs, you do see a bit of a shadow on the bottom of the screen in between the lights. The shadows don’t reach any of the text (at least not on mine) and doesn’t interfere at all with reading, but it was quite noticeable and even a tiny bit distracting when I first got the Paperwhite. Less than a week went by before that too “disappeared” and I don’t even notice it any more.
Like others - I really miss the physical page turn buttons from my previous Kindle. I find it a bit harder, if not actually impossible, to read one-handed with the Paperwhite.
If all you want is a a device to read books on, you can’t get any better than the Paperwhite and I recommend Kindles to all readers. If you want to do more (use the web, email, etc), you will be very disappointed. I have an iPad for that stuff. Even given the “issues”, I think the Paperwhite is one of the best pieces of technology I’ve ever owned and while I don’t feel the need to upgrade yet, when it comes time I will absolutely buy another Kindle.