I picked up the Kindle app for the iPhone and recently purchased the Tribes book from Seth Godin. I've been on a few trips of mid-size duration lately that I didn't necessarily call for a laptop, and this app has come in very handy.
I think the debates over whether this is good for the book industry are overblown. To me, it seems like this mirrors the newspaper v. Internet debate a bunch of years back.
If the ultimate goal is to expand the customer base, in this case book and magazine readers, the Kindle app for the iPhone (and the Kindle itself) seem to do this.
So, what's the debate?