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"maybe such a high pixel density is unnecessary with e-ink?"

That's right. E-ink pixels are not square, don't have gaps, and don't use three colour pixels to create white. A higher pixel density with e-ink would be nice, but isn't as necessary as it is with LCD.

http://www.bit-101.com/blog/?p=2722

In my experience, the Kindle resolution is sufficient to be like printed text. My guess is that because it's black and white only, you don't need to worry about the sort of sub-pixel font rendering that LCD's do.

The kindle screen doesn't need a higher resolution - the way the e-ink is displayed it makes reading a breeze.