I think people that work with technology for a living overestimate how different the general public is... Yes, the Ipod took off, but before that everyone had a portable CD player, portable cassette player... it wasn't a new product, just a better product.
People who read books like books. I really don't see the cost of a device, in addition to the cost of a book that you don't actually get to own, winning over people who read.
Hell most the books and magazines I read I read because I can't or won't have an electronic device with me... It's sort of a non compete product. The Kindle is cool and all, but anywhere I'd bring one I'd just bring my netbook, otherwise I'll take a disposable used paperback or a magazine. Apple making a slightly more expensive and trendy version of it will not wipe out print media.
