There are several reviews of different Kindle editions you can read at Bright Hub, including a comparison of the Kindle 2 with the Kindle DX. Previously it contained internal storage for about 1.3 or 1.4GB of user content - estimated by Amazon to be 1500 books. However Amazon has just brought out a $139 version that is obviously aimed at competing with the $149 Nook, and it has 4GB internal storage along with just Wifi. It remains to be see what that will do to the eBook reader market, now that the Kindle can hold 3500 books.
Amazon also has been trying rather hard to keep prices for new digital books, even bestsellers, at $9.99 or less. You can download and read the first chapter of a book to see if you do want to purchase it.
A charge lasts from a week to two, depending on how much you use the wireless capability. The battery is well rated and expected to last many years while still holding over 80% of the original charge.
It has a 6" diagonal reading display, which will hold about a normal page from a paperback, in typical paperback font. You can also increase the size of the font.
With the built in keyboard, it is quick to input information or find books stored on it. The Kindle 2 can access Wi-Fi or 3G networks to contact the Kindle store for purchases, or download a copy of a book you removed from your Kindle previously. The access also allows you to post to social networks and Twitter.
The Kindle has a feature where your reading can be synced across devices. You can start reading a book on your Kindle, read a chapter later on your smartphone, and then another chapter on your PC or netbook. While I do not own a Kindle, I do have the software program on my PC to play Kindle content, as I have purchased a couple books, and gotten some free eBooks from them. This involved setting up a Kindle account for me at Amazon. In that account is the record of my Kindle acquisitions, if I ever need to download them again.