2 - If they were that interested in selling cloud storage I suspect this would have happened by now. I have numerous large physics, math and comp sci text books on my RM1 and have no storage issus.
3 - They have issued numerous updates to the software. 4 - They have made improvements to reader functionality. As I and others have noted - font resizing and first use of epubs is slow because those files are converted to a pdf which is what is actually displayed on the device. 5 - The company would not be on a 2nd generation device if they did not understand their target audience. What is clear (to me) is that they don't see everyone as their audience ala Apple or Amazon.