Well I ended up going for the
Kobo, mainly because I could walk in and see one and buy it on the spot (Borders and Angus & Robertson sell them). Most of the other units like the Kindle and the Nook would need to be ordered from overseas and are more expensive. The Kobo was just $199.
Its a bit early for a proper review, but so far I'm really happy with it. I find its actually more comfortable to read than a real book, particularly when you're lying back and holding it up, because its lighter and you don't need 2 hands to turn the page. If all you want to do is read books, this thing is excellent. But if you're keen on reading textbooks, PDF's with a lot of diagrams and tables, magazines and newspapers, then while the Kobo can display these, there are probably better - and more expensive - options out there.
If anyone does buy a Kobo, I would
strongly recommend you skip the software it comes with and install
Calibre instead. Its free on the web and works MUCH better. It allows you to convert any format of ebook, pdf or text document into a format that works best with the Kobo and makes syncing dead simple. You can use Calibre with every e-reader out there, not just the Kobo. I'll definitely be making a donation to the developer, its an awesome application.
Oh and one more thing, on the subject of e-books, searching for some titles I've found that they are available in the US but can't be purchased if you are in Australia. I've then googled those titles and found that they are freely available on the internet. Its a sad state of affairs when (just because I'm in Australia) I'm not allowed to buy an e-book and the only way of getting it is to steal it. When will these people learn?