Now's the time to do it!
My agent and many of my friends have Kindles and love them. I have a Nook from Barnes and Noble and am partial to it, because I can buy ebooks from both BarnesandNoble.com and Fictionwise.com (which is a little cheaper) and read my ebooks on my Nook. With the Kindle, you can only buy books from Amazon.com.
The Nook now has a Wi-Fi only version ($149) that's even cheaper than the Kindle, and their 3G version (similar to the Kindle and the Nook that I have) is only $199, which is only $10 more than the new Kindle price.
I don't know if the Kindle can do this, but I just discovered that with my last software update to my Nook, I can actually surf websites on my Nook, too, as long as I have Wi-Fi! That's way cool! (However, like the iPhone and iPad, the Nook doesn't have Flash, so it can't load any sites using Flash.)
The Kindle and Nook are great ereaders because they use the e-Ink technology for the screens, which enables you to read on them for a long time without eye fatigue (as opposed to a computer screen).
I love the fact I can bring dozens of books with me! For me, when I choose a book to read, I like to have a large selection so I can pick what appeals to me at the moment.
So for any of you thinking of getting an ereader, now's a great time to do it!