If it's articles with diagrams and colors or magazine layouts, with gloss and shine, nothing beats iPhone 4(s) and iPad 3's retina display.
It's frustrating that IPS LCD, OLED, and E-Ink all have such distinct advantages, so the idea of having a single device with the best screen in all contexts isn't really possible. I assume OLED will eventually be that.
Some early e-ink manufactures used to claim that e-ink is better than backlit for the eyes, but they retracted those claims because there was no scientific evidence behind them.
You just need to set the brightness of the iPad appropriately, to match what the relative brightness of an e-ink reader would be. You can also adjust the colors, i.e have a sepia background etc.
Battery life and reading in the sun is indeed much better with e-ink devices, though.
The Fire seems like a great video watching device, but I don't do much of that (and when I do, it's on a projector with surround sound and other people)
Quite on point. Few people would willingly admit to this, but a lot of research suggests that simply having options available imposes a real cognitive load. Simple additions to text like footnotes and hyperlinks produce real drops in recall/comprehension - it's not a stretch to apply this to the iPad with its notifications and rich entertainment options.
on e-ink there isn't really an advantage to my eyes. I've never gotten eyestrain reading on my (first generation) iPad. The image quality of the e-ink display is worse than even the first generation iPad (to my eyes), in large part because the e-ink display is not responsive.
weight- I deal with it on the iPad. The kindle is better in this regard, but not enough to make it compelling.
Amazon had a great product in the original kindle, but it was a single purpose product. It hasn't kept up (or e-ink hasn't advanced fast enough) and its losing the race.