I have computers, smart phones, mp3 players, but my Kindle is hands-down my favorite piece of technology. Actually, I'm pretty sure it's my favorite possession. It's "every book I've ever read or will read: upgraded" -- it basically looks/reads like paper but is searchable, has an inline dictionary, and adjustable fonts.
The browser is ok, in a pinch. I'll use it on occasion to check the weather or read the news but I wouldn't buy a Kindle for that functionality. It's an added bonus, it's pretty cool being able to view the Internet without putting down my "book", but it's no tablet pc by any means!