Is Kindle the Future of Reading?

As we all know, Amazon is trying to revolutionize the literary world with the introduction of the Kindle, a wireless reading device that allows you to download in only 60 seconds (I'm sure this will get faster) from a selection of over 285,000 books (I'm sure this number will double in the near future), and for a fraction of the price that they would cost on bookshelves (these prices could drop further as well). Now in its third reincarnation (Kindle DX), the questions remains whether Kindle will successfully win over the current generation of readers?

Clearly the Kindle has its appeal. It's cost effective, it's environmentally conscious (though lithium polymer batteries still pose some environmental challenges), and it has an attractive quasi-first generation iPod look. But for many old-school readers (including myself), what makes books appealing is the fact that they are tactile and don't have the same effect on your eyes as reading text on an LCD. Amazon is clearly trying to overcome this hurdle. According to their website, the newest Kindle: "Reads like real paper! Now boasts 16 shades of gray for clear text and even crisper images!"

But whatever difficulties Amazon will have marketing to the current generation of readers, there is one demographic they have no problem reaching out to -- today's youth. I've already overheard parents gushing about how their kids are devouring books through their Kindles, sometimes buying three to four new books a week. And now I've learned that in my home state of California, Gov. Schwarzenegger plans to save millions by putting school textbooks online. I personally think this is a good idea, just based on memories of how insanely expensive high school textbooks were (especially the ones that I barely cracked open), and it will save the state a great deal of money, paper, materials, etc.

But it still makes me think, if the next generation of students is growing up reading all their books on Kindles and doing all their homework reading online, is it only be a matter time before reading a paper book is just another old pastime?