but if it takes twice as long to read pages on the mylo's tiny screen...

A nokia screen is 2.7 times the surface area of a mylo screen, so other things being equal, the nokia screen will require 2.7 times the power to maintain the same brightness.

mylo
2.4 = sqrt( sqr(4x) + sqr(3x) ) calculated diagonal area
5.76 = 25 sqr(x)
area = 4x * 3x = 12 sqr(x)
area = 12 * 5.76/25 = 2.76 in^2

nokia
3.5 * 2.25 = 7.86 in^2 measured by myself

7.86/2.76 = 2.78
the nokia screen has 2.7x larger area

8 hrs * 2.76 sqr in = 22.08
3 hrs * 7.86 sqr in = 23.58
sqr inch hours should be related to watt-hours by some constant
the nokia battery has slightly more capacity ( 1200mah vs 1500mah )

I wouldn't call it total domination, it's just physics.