Any reason this isn't in the Android marketplace? I hunted around in the marketplace for quite a while looking for an eBook reader; after downloading two disappointments decided there must be nothing out there. Then I stumbled on this!
While I was initially disappointed by the lack of native support for a wider variety of formats, I found that after I paired this on my phone with calibre on my desktop (for handling format conversions and metadata) I had the best possible portable eBook reader I could ask for. This trumps Stanza, which I was using on my iPod, and also Mobipocket Reader, which I was using on my Windows Mobile device.
Thank goodness you're out there, or I would have had to keep my iPod around just to read books.