I've wanted a color Kobo for years, but I'm a bit disappointed. The main benefit of a color eReader is for (some) PDFs, comics, etc., all of which benefit hugely from a larger screen than the Libra's 7" display. I hoped Kobo's first color reader would be at least 8", and preferably 10.3". Carrying all my RPG PDFs on a color eInk display would be super cool, as I find reading on such a device much easier on my eyes th…
Color PDFs and comics almost always assume good, full gamut color reproduction. e-ink can't do that. It can only do a few pastel colors well. The typical books usage is much more in-line with the capabilities of the display. Highlighting is substantially improved with even a little color, as are interstitial art and cover icons.
In the near future I think spectra displays will be excellent for readers when they manage to get the refresh a bit more speedy, while ironically the B&W displays with color filters will be the E-Ink technology suited for tablets and phones in general.