I received a Basic Kindle for my birthday in October and thought I would write a review on it. I've read quite a bit on it and for reading (which the device is really for) it is great. The only thing that I would change is have a built in light at the top that you can turn on if you need it since it isn't back lit (they sell separate reading lights for this at the moment). It is a black and whiteish device, no color, so if you are buying this to view your fashion magazines this is not the device for you. If you want color then you should go with the new Kindle Fire.
This kindle does not have a keyboard. Not with buttons. It has a keyboard that you have to navigate using the arrow buttons and I have to say that it is a bit annoying. It takes a while to type up a name of a book sometimes. But for the small price of $79 USD I guess I don't mind. If you war willing to pay more then there is the Kindle Touch where the keyboard will appear and you can touch it like you do on a iPad or an iPhone. The Kindle Touch is available in both WiFi only or WiFi and 3G so that you can always connect where ever you are.
I got the kindle with the advertizements on it. Don't get discurraged from these kindles because the ads are only on as screen savers, when you are not using the kindle, or when you are on the main screen or searching for another book. They are not bothering you while you are reading on it. The ads are also often pretty good and you get some good deals from them. It also makes the device much cheaper to buy.
My Kindle is WiFi only so it is not like the kindles of old that you had wireless access all the time almost everywhere. The WiFi only doesn't inhibit you from reading the books that you have already downloaded to your device but it does inhibit you from finding another book and downloading it on the go. The basic Kindle has a simple browser that you can use to access your email if you are in desperate need,where you need to use the little arrow buttons to navigate through the screen. But to navigate the web is what I have a laptop, an iPad and iPhone for. I don't recommend this device for anything but reading your books, news papers and magazines.
The battery life is amazing on this thing. I think I have only charged it a few times in the last 2 months. It's suppose to last 12 days with continuous reading as long as you turn the WiFi off.
And there you have it. I am mostly happy with my Kindle even thought I would love to get my hands on a Kindle touch and a Kindle Fire. It's great for reading books on with non of the eye straign that you might get form a back lit device like a computer screen or iPad. There are plenty of free books to pick from as well. Most of the classics you can get for free which is really helping me get through the 1001 books I must read before I die.