I bought it for Dad to try and chose a second hand one as, if he doesn't take to it, it was not a large expense.
It has 2GB of memory, but this can be extended with a memory card of up to 32GB, although as books use so little memory, I would think 2GB is enough for most readers.
There is a Kobo store, which works like Amazon with Kindle, and once you have registered a credit card, you can buy and download books via wifi. However, there are many free ebooks to be accessed if you don't want to spend money and my main reason for buying this is that, if you are a member of your local library, you should be able to set up an account which allows you to download ebooks instead of borrowing physical ones. My only experience is with the Welsh library system, which allows me to borrow up to six books for three weeks. At the end of the three weeks, your choices mysteriously disappear (not sure how that works) but there is the advantage that you don't have to remember to take them back before the due date or risk paying fines! Unfortunately, the Kindle format is not supported by Wales ebooks nor, I imagine, in other areas of the country.
I already have a Kindle with keyboard, which I like very much, not least because it has things to press to turn the pages, whereas the Kobo has a touch screen and occasionally, the touch is unresponsive but so far, this hasn't happened often. The touch screen can be set up for right or left handed use, too.
The e-ink pearl display seems easy on the eyes and I have been using it for lengthy periods, with no eye strain and in that respect, it is equal to my Kindle. The other advantage with e-readers generally, of course, is that the print size can be enlarged which is helpful for the sight impaired or even if you generally use glasses for reading.
If you are choosing books other than through the Kobo store, they can be downloaded to your computer and then 'side-loaded' as I think the term is, via a USB lead, which is quite straightforward.
The size and weight are good for holding and I like the quilt-effect back which, although it perhaps doesn't look all that great, feels comfortable in the hand.
Keith has commented that, since I got it, I have hardly had it out of my hands - a bit of an exaggeration but he is convinced that Dad is never going to see it.
I have to admit, he could be right!