It's still a bit of a mess, and doesn't come with a decent keyboard, and the screens are tiny. I'd rather have something in a notebook formfactor – 12" eInk, full keyboard, and just a serial port on it. (Maybe also USB, for charging and slaved to a serial-to-uart adapter.)
They have a horrible bit of forcing the user to connect an account online during first power-up. This can be avoided with a bit of SQL. This site talks about "activating" without the desktop app (and other bits of tinkering):http://uscoffings.net/clc/tech/embedded/kobo-touch/
>Connect the Kobo via USB, and mount its onboard storage on your desktop machine.
> Ensure you have an SQLite3 database browser installed, or some way to execute SQL. For example, sudo apt-get install sqlitebrowser
> Open /mnt/onboard/.kobo/KoboReader.sqlite.
> Execute this SQL: insert into USER values("foo", "foo", "foo", "foo", "foo");
> Save, unmount, and disconnect.
Here's a bit about enabling Telnet (and cross compiling for Arm7): https://github.com/drj11/kobonotes
Here's someone who turned their Kobo into a GPS for their glider. http://hackaday.com/2014/05/28/e-reader-becomes-sailplane-an...