E-Readers

I'm looking into an E-reader again, but I've come into the same problem as before....choices!  Now some may think that having a selection to choose from is a good thing, for me, it seems to make my mind spin.  I've got too many different directions to go in and I'm not sure which direction is right for me.  The Kindle is a popular choice, but seems to have drawbacks.  A popular format (EPUB-?) is not supported on the Kindle.  The Nook-color sounds fabulous, but wouldn't be so good in the sun.  How often will I need to use it in the sun?  Both allows you to share books, but only once.  Who would I share with?  Hubby has an off brand E-reader, Astak or something and he seems to be happy with it.  He reads those nerdy publications and the older out of copyright books that I'd NOT be interested in.  I'm glad it works for him, but I'd rather stay in the mainstream market.  You see my dilemma?  This is just the tip of the iceberg of questions and concerns I have about e-readers.  All the bells and whistles they have added entice me, but will I use them.  The Nook can be used as an MP3 player and seems like a good thing.  Will I use it? 

So friends, I guess I need to further research and ask those of you who have e-readers to help.  What do you have?  Do you love it?  What are the pros and cons of the model you have?  Give me the good, bad and ugly!