Engadget is reporting that Amazon has announced the new Kindle 2 for release on February 24th at a price point of $359. Thinner than an iPhone and coming standard with "Read-to-me" text-to-speech capability, the new device also has seven times more storage, faster page turning, a 16-level e-ink display, longer battery life, and a new five-way joystick. Looks like life just got a lot more interesting for fans of the original device. Engadget also has live coverage from the Kindle 2 press conference.

Predictions Market sends us to Gizmodo for an interesting take on the question: when you "buy" "content" for Amazon's Kindle or the Sony Reader, are you buying a crippled license to intellectual property when you download, or are you buying a book? If the latter, then the first sale doctrine, which lets you hawk your old Harry Potter hardcovers on eBay, would apply. Some law students at Columbia took a swing at the question and Gizmodo reprints the "surprisingly readable" legal summary. Short answer: those restrictive licenses may very well be legal, and even if you had rights under the first sale doctrine, you might only be able to resell or give away your Kindle — not a copy of the work.