Books, Readers and Electronic Book Readers

A generation or more has no frame of reference for the works of Dante, Shakespeare or even Twain much less Socrates, Plato or Aristotle. In fact, some argue that books will soon become relics only found in museums.
Amid this literary doom and gloom electronic book readers like Nook, Kindle and several cell phone applications for electronic book readers are selling wildly.

The surge of electronic media of providing books, classics and contemporary novels, certainly will have a positive impact on future generations of readers. What do you think will be the implications for libraries, media centers and bookstores?