There can only be one... or in this case, two, if you're talking about the current state of the e-book reader market. The always insightful Ars Technica has posted an interesting read on the state of the e-book reader. The broad strokes? The iPad and the Kindle bring da noise like no one else for the time being.

As reflected upon in the feature, back in January the major electronics trade shows and gadget news sources were crammed to the rafters full of Kindle knock-offs and promising reader technology from a number of start-ups and long-time players in the tech arena. The majority of the promised hardware either turned out to be a flop, such as IREX's Illiad, or were cancelled before consumers even had a chance to get their mitts on one, as is the case with the QUE from plastic logic.

It's argued that poor sale of lesser known devices in the e-reader market are partially due to the fact that no one has brought a compelling product to market that can compete with the affordable Kindle, nor anything that knocks the socks off of consumers like the iPad. If, on the other hand, someone were to deliver a device that gets it right in the gray area between the two price points, they might just stand a chance.