Yes, yes and yes!
But will book reading actually suffer? I doubt it. My kids would love to have Kindles so that they could read spontaneously. They get addicted to a series (don’t get me going about “Pretty Little Liars” right now), and once one book is polished off, they want to start the next one. But the scarcity model of book publishing means having to wait days between reading events if ordering a book from an online retailer; calling around town to find a book and often failing; or checking the library which often doesn’t have the latest materials. Does waiting, calling around, or getting frustrated help the reading experience? Not at all.