In an ideal world, huge amounts of content in EPUB format would come together with inexpensive, color, touch-enabled e-readers, making them solid textbook replacements and turning giant student backpacks into thin messenger bags.
This is hardly an ideal world, though. Yes, it looks like the inexpensive color e-reader will be a reality, but the same technology will also enable inexpensive color tablets. What is a school going to buy? A one-trick pony e-reader for its students or a really useful convergence device for a slight upcharge? Especially if the EPUB content does come together, then this will be viewable on any device (including said tablets). It becomes much harder to make the case for e-readers outside of bookhounds who value a device just for reading books.
What remains to be seen is just how cheap these new tablets can be, how quickly e-readers improve, and how fast content comes together for any platform. No doubt, 2010 is going to be a very interesting year for these intersecting markets.