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it is an e-reader.  I'm not really up on what the K4 will bring, but if you are looking to read books the K3 is a wonderful device.

I have an iPhone 3gs and would not trade it for an iPhone 4.  I'm perfectly happy with what I have.  An upgrade to a device does not mean you suddenly won't like the one you own.  I say go for it and get your Kindle.
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