People over at the MobileRead forums are now reporting on their Kobo Touch ownership.
1) It has a web browser. See my separate post about it.
2) The Kobo Touch can read non-DRMed MobiPocket books! I missed this news when it was introduced with the Kobo WiFi. Hm, buying books from Amazon and some wizardry with Calibre can make this a kinda, sorta Kindle too, without having to root it like a Nook Touch. Note that Kindle books would have to be sideloaded via USB cable.
3) Just like the Nook Touch, people are reporting text appears less sharp and less dark. I have yet to fondle either device so I don’t personally understand the extent of this.
4) Kobo has followed Barnes & Noble’s lead and baked in refresh every six pages. Some people are complaining of ghosting (as do some people with the Nook Touch). A Kobo staff member says a firmware update will enable people to choose the page refresh rate.
5) People are unhappy having to use Kobo Desktop with the device for registering and firmware updates. Also, when sideloading or syncing books, forgetting to eject it still causes problems.
6) Neither the dictionary nor highlighting work with books not purchased from Kobo. There is also no note taking feature.
7) There’s an Easter Egg! See the video:
Mike Cane’s xBlog 
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DON”T BUY THE NEW KOBO TOUCH until they uncripple the dictionary. Good news: it is probably the best ereader out there. Bad news: they have stupidly crippled the dictionary function for all books other than those loaded directly to the device from the Kobo store (even if you buy the book from the Kobo store onto your computer and then load it to the device, the dictionary has been intentionally disabled). If I had know this, I would never have purchased the device until they uncrippled the dictionary. They should do this immediately and apologize to their customers.
Let’s hope this is a temporary thing and a firmware update will fix that. Kobo sometimes monitors the MobileRead forums as well as being active on Twitter. Let them know of your objection.
I wrote Kobo about the dictionary lock down and inability to highlight on sideloads and have heard nothing. I had no idea this even applies to sidelined Kobo books. That is terrible. That and no note taking goes a long way to killing the positive aspect of the wider format range.
Can you highlight & use Dictionary on 3rd party non kobo books downloaded directly to the Kobo reader via it’s browser from a store or can that in itself even be done? Thanks
Because of the way Kobo books are structured, no, dictionary will only work on Kobo books, not sideloaded ePub.
I just bought a kobo touch over the weekend from a Borders Liquidation sale. I have been converting my pdf eBooks to epub and loading them via usb with windows explorer. I can highlight words and the dictionary works fine. I was a little apprehensive when I bought it because I was unfamiliar with the brand. However the more I learn about the device the more satisfied I am with the purchase. I wish I could get one with a text book sized screen for school!
umm ive had the kobo for weeks and every single book ive thrown at it has had dictionary functionality… I havent even purchased a single one of my books from the Kobo store. I guess its the new firmware or something but these issues are resolved. The Kobo touch Ereader is by far the best ereader on the market in terms of Function and price… I had the choice between the Kindle, the Nook touch, and the Kobo and took the kobo because of the lack of function of the other 2 ereaders.
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Latest version 1.9.14 is awful!
Just a gimmick now to but books from KOBO..too much crap and un-wanted so called features.
No reliable now
I am getting rid of mine and getting a Sony wi-fi
I like my Kobo touch. I’ve only had it a few weeks, and firmware updates have fixed problems mentioned in most reviews. I’ve manage to get word docs converted to epub by using word to convert them to html and then Calibre to convert to epub. So far it does not do epub in landscape, and pdf landscape is unsatisfactory.