Depends on a) the quality of the e-book adaptation's typesetting and markup, and b) the size and quality of the device. The textbook publisher needs to invest a little (though possibly not as much as conventional typesetting) and the student needs to shell out on a full 10-inch screen (which need to be used on several books for the investment to amortize out correctly).
Layout/markup: for well-done academic volumes (using Google Play and Sugimoto's "An Introduction to Japanese Society" as my reference piece) things like footnotes are actually a better experience than print - you tap a blue-highlighted superscript, and you get a model that pops up inline for you to read and then swipe away. No looking up the number at the bottom or (even worse) in the endnotes. Tables are all linkable and back buttons work, etc. On the other hand, a straight import of the original text and graphics without any semantic markup can be truly painful to use.
Device quality: this matters more for things like academic volumes with charts/figures (as you mentioned) and graphic novels. If you have content that needs to be viewed on a single screen, and it's organized to fit on 10-inch-diagonal paper page (or larger), it's going to suffer a lot on a 7 inch tablet. especially on small form factors. If you try to read a book with tables and charts built for a full-size hardcover on a 7-inch tablet, it will go badly (I have tried this). On a ten-inch tablet with a screen closer to the hardcover size it's actually quite pleasant.
These two issues interact a bit with the layout/markup issue; for example, I've seen linguistics books that try to give the same text in three versions (foreign language, individual-word translation, and idiomatic translation) as three-line clusters, like so:
mah nishma`?
what hear.PASS
How are you doing?
The typesetter didn't know how to make these reflow correctly using e-book markup (which may not be possible given the tools available?), which means that the line breaks are hardcoded, and the ends of long lines will be unviewable past the edge of the screen on 7-inch tablets. On a 10-inch tablet this works quite well.
Doing the things college students do with textbooks (flipping back and forth between a pset and the material, for example) requires a bit of familiarity with the software but it's very doable and I think very pleasant once you get used to it. It is a barrier to entry, though, and I think e-book UIs need to make it easier to learn. This might just be my personal experience, but I find full-text search, even with a tablet screen, much faster than index lookup in print.