I love the convenience of ebooks, but the ease of shenanigans in the distribution channel and the ability of a customer to lose an entire library's worth of books over business rules or technical issues distresses me.
When you read a paper book, you can be certain that the content in it is the same as when it was printed, and hasn't been edited or censored since you bought it. It can't be taken away from you by the publisher, except by physical force. You can resell it at will. Publishers and retailers who wants to try different pricing strategies can do so without facing the powerful control of Apple or Amazon.
I plan to keep on reading ebooks, but I'll buy the books I actually care about in physical form.
a) accessible and buyable by me (Linux, .nl based)
b) at least as easy to find and get as pirated material
I will immediately buy. In all other situations: I am not going to fiddle with drm-ripping python scripts, convertors, virtual-machines, geo-ip-faking-proxies and so on, just to be able to pay for stuff that I can get without all that hassle for free.
I even track down authors for books I like and wire them the money personally, if for some reason their publishers hide behind all this DRM nonsense.
You can't really do this so easily with books, but my favourite tactic with music is to rampantly pirate an artists output, then go up to them at a gig and press a wad of cash into their hand with an apologetic smile :)
I don't like piracy and I will never, ever use any product crippled with DRM. Therefore I read only public domain e books, and they're plenty. If everyone did the same, we'd get rid of this nonsense quickly. Don't encourage them by buying DRM'd ebooks.
I have a Nook and I do not buy any books through B&N.com, only direct from technical publishers that are DRM-free and then load the epub file via USB. In fact I only turn my network connectivity on about once a month to update the clock on the device.