I'm really surprised that Amazon and Barnes and Noble continue to push out eReader devices, and even more surprised that people are still buying them. Two or three years ago, it made a lot of sense, but it's 2012 now and if you want a new eReader, simply go buy one of these for $199:

I say this as the owner of two Nook products - an original first generation e-ink based reader, and a Nook Tablet.

The reality is that a real Android tablet, like the Google Nexus 7 can do everything that the Kindle and Nook can - you can read all existing books from either device by installing the Kindle or Nook apps. And unlike the limited eReader tablets, a real Android tablet is... well... a real Android tablet so you have access to all the apps in Google Play, and full hardware features - such as a GPS and Bluetooth. For just an incremental additional cost you get a full blown tablet-based computing platform.

The Kindle and Nook are very limited, as they only allow you to install applications from their very, very limited app stores. There are ways of hacking these devices to install regular Android apps (I did this on my Nook Tablet), but it's still a hack - and many applications are still not supported on the hardware - such as anything requiring a GPS.

There's only one reason I can think of to buy a Kindle or Nook - if you really want an e-ink display for better viewing in direct sunlight, in which case it might make sense to buy one of the e-ink based models, but note that due to technical limitations of e-ink displays, these units don't have anywhere near the capabilities of models with LCD or OLED displays.

And finally, yes - Apple is coming out with 7" tablet of their own, but it will come as no surprise that I wouldn't recommend it. It just doesn't make sense to pay twice as much for Apple's proprietary hardware and locked down ecosystem. It makes me laugh everytime someone tries to plug an Apple product into anything else, with all the ridiculous dongles required to convert from industry standard connectors to Apple's proprietary ones. Enough said about that - do yourself a favor and buy an Android based product. You'll thank me later!