1) without internet it is a fantastic book reader provided you install FBreader.
2) browsing is close to perfect, great high-res screen, flash works decently (but not with utube), the downloadmanager sucks, but you can get wget to make things work.

I really recommend you get it, it is much more of a mini-computer (running GNU) then an internet-tablet (you can install nmap, kismet, nessus, etc. although some of these are not ready for the 2007 OS yet).

It is not quite a full Debian, alas. For example, the unit must be flashed for updates.

But it still is a great purchase. Go for it!

Cheers,

VS