E-Books are not the same as music. The exact opposite - the media existed (CD) which could easily be converted to a format and moved to an electronic device. The large mass of devices forced the hands of the music industry since people got used to having their music with them and when they couldn't purchase it fairly they got it from sharing trading.

However, books cannot easily be converted to digital format so there is no critical mass of electronic devices in the hands of people to demand their favorite material be available.

Amazon is betting on the illusion that ebooks are like digital music but it's not the same at all. However, if they made ebooks just like regular books, then more people would be exposed to digital media increasing the desire for devices and then expanding the market.

(Assuming an ebook standard emerges. I guess PRC format is close. However, IMHO, ebooks won't take off unless someone develops a slot you can shove a book and and out pops a PRC file. 8-)

Unfortunately you missed the most important Con in your list - you DON'T own the books you purchased. You've just been loaned them until some DRM glitch leaves you without any of your books.

Until e-books act like real books - I own them, I can loan them, I can give them away, I can sell them as I please it's just not going to happen.

Of course, if the price was WAY lower than physical books - like $2 or $3 for a $20 book, that would be different.