Jack, I've got several dumb questions:
1) What format do e-readers accept? PDF?
2) How am I getting company content into the e-readers? USB stick? I'd hate to have to walk around loading all these readers. Do they have client software for 802.11 a/g/n wireless networks? VPN?
3) You mentioned books. Can I purchase one book and have it loaded it on multiple readers at the same time?
4) From point #6 - "...the e-reader is a single-minded device," Does anybody want a single purpose device these days? Aren't e-readers already moving beyond their original purpose and beginning to incorporate some features from media players and cell phones?
Some non-question comments, numbered after your points:
4) Desk space savings. I can save even more it I drop both printer and e-reader, and view reports on a LCD monitor. We banned desktop printers outside of HR years ago.
7) Morale boost. I wonder how many of these relatively expensive morale-boosters would go unused by those employees who don't have any use for electronic toys, or who get frustrated because they won't bother to read the instructions, or don't read recreationally or professionally in the first place. You can toss a whole lot of Friday pizza parties for $300 per reader.
8 / 10) The downside of moving your documentation to an e-reader format is you lock out those employees, customers, vendors, other stakeholders who don't have a reader. Now you have to maintain two sets of documentation, one in e-reader format, one in PDF for the rest of the world. (Assuming the e-reader format isn't PDF; see my first question.)
Where I work, those with laptops usually bring them to meetings. While there is the possibility of distraction, the ability to access our MRP system and the Internet outweigh the potential inattention issue. If people aren't going to pay attention, they find a distraction anyway. (I doodle.)
I can also see a couple of disadvantage. One is the inability to view multiple pages side by side to compare content. Also, the last time I checked, paper was larger than most e-reader screens.
My big question: for appx. the same price, why get an e-reader instead of a netbook? It seems to me most of the advantages you list would also apply to a netbook, with more capability for the money.