I rather enjoy my Kobo. I'm not sure why it says "Coming Soon" because it's out now.
It's definitely e-paper, I don't believe it has remote wipe, and can read many ebook formats, including DRM-free ones.
Some titles on the Kobo store are DRM-free (and are indicated as such), and the store is massive. If your books are DRM'd, it supports Adobe's DRM scheme.