Kindle Questions

I know some of my wonderful blog readers own Kindles and therefore I am going to take full advantage of you and beg for information. If you're not a Kindle owner, rest assured that your opinion still matters.

I have been stalking the idea of owning one myself for a few months. You have to understand I was against them when they first came out--they seemed like a total geek-toy that could never replace the joy of a book I can hold in my hands. However, as time has passed I'm seriously tempted. The idea that I could go on vacation with a dozen books that weigh 10 oz. is cool. The idea that if a book I'm reading sucks, I can just move onto the next one is intriguing. But will I like it? Will I miss the 'book in hand' thing and will it make me cry because it's so hard to use. I no good at hard stuff.

I have a couple specific questions for Kindle owners:

1--Wan you upload ANY ebook? My library recently started doing ebooks, can I check those out and put them on my kindle?

2--Is it cost effective? At $300 to buy it and an average price of about $10/book, does it pay for itself in a short amount of time?

3--Were there surprises you think I should be aware of?

So, what are your thoughts/experiences/friend's experiences/prejudices/fears/intrigue in regard to the kindle?

PS--thank you!