-You can browse the web on it and watch videos
-You can download apps
-You can add your friends and share books with them.
-There are tons of books to choose from and you can preview a piece of the book to determine if you'd be interested in reading it.
-You can also subscribe to magazines and newspapers on it as well..
One thing you have to remember though is that this is something you will continue to invest in and it is a bit expensive to begin with. Definitely research different e-readers and decide which one is right for you if you plan to buy one...they're all different!
I'm still excited about my Nook even though I've had it for awhile now. I'm reading even more than I used to and I'm always discovering new books.