Pros: There are not enough words for pros. You'll have to read my review.
Cons: You have to purchase a book light if you wish to read in the dark.
This is the second E-reader I have owned. I purchased the "Barnes and Noble Nook Color" two days after Christmas '10 and returned it two days later. The weight was impractical for reading and made my fingers fall asleep after ten to fifteen minutes, the uncrisp video made my eyes hurt and I Hated the quality of the free books! I was very disappointed and decided that if I were ever to get another E-Reader it would be lighter and easier on the eyes.
I have had my Kindle Touch several weeks now and Still am in love with it. It is very easy on the eyes even during long reading sessions. I also often use a book light with it and have no problem with glare. Even thought it is a touch screen it has a nice anti-glare screen. I have read reviews other places that said their screen smudges easily. I don't know how this is unless they are eating while reading and using the same hand to turn pages.
The kindle store which is how you buy books from amazon is easy to use and no hassle. One qualm with the store is that you cannot categorize by price. Even that is small issues you don't have to really hunt to compare prices. Just click on the book in your search results list and it tells you how much it is. And public domain books are excellent quality (they don't look like photo copied pages like on Barnes and Nobles Nook store.. I really hope they changed that from last year.).
I have no real use for the speech to text feature (other than impressing my family. lol) but I LOVE LOVE LOVE that you can highlight a word, name, etc. while reading and get a definition or look it up on wikipedia. You can even highlight a quote to go back to later, or post it on your fav social networking site. I was even able to find a few simple word games on the Kindle store. The Internet browser is simple to use but is basic, it does not do video (but i expected that to be the case. Also the basic e-ink nooks no longer have a browser at all.)
I purchased the Kindle with sponsored adds. Not only are they not an inconvenience, some of them are actually useful. There is a small banner when you are on the home page, and then your screen saver is an add. Those are the only adds! They are NOT there while reading or on any other screens.
It took me a couple sessions to remember bumping the screen while reading will result in page turns, but after that it came naturally. So I don't consider that a con.
After my experience with the Nook Color I decided to do research before diving into the purchase of another electronic reading device. I am glad I did. I am VERY happy with my decision to buy Kindle Touch.