Found some news on the Cybook today. According to the German e-book seller eBookMedia, a "Preview" of the Cybook will be available for 720 Euro (~850 USD). I am not sure if you are ready to pay that amount of money for a non-final product, especially if there is no upgrade possibility mentioned.

The Final would be available June 1st, 2004, according to their website.

Some specs are available in German.

The Cybook runs Windows CE 3.0.

The following formats are supported:

• Mobipocket Reader (with DRM)
• uBook (Microbook)
• Boo Reader
• PDF Reader
• Internet Explorer
• Pocket Word Reader
• PTab Reader

A Compact Flash memory is supported for storing e-books.
It worries me a little bit that the website of the makes of Cybook, French-based Cytale, is not any longer available.