The experience of reading an ebook and a "pbook" version of a book is different. And it's different for different people, as several of the posters here have said.
Each has advantages over the other.
Among them is the fact that you can store a hundred or a thousand or (not too many years from now) a million ecopies in one device. You can also do searches within an ecopy a lot faster and more flexibly. Ebooks can also have active and interactive images inside them.
Pbooks however have benefited from several centuries of evolution in the ease and pleasure of reading printed matter. Just think how many thousands of work-hours have gone in making better fonts, as one of many examples.
In the next few years ebooks will improve drastically. They will become lighter, skinnier, more tactile, and the displays will become easier to read. The price will continue to drop, to the point where we may have a dozen or dozens of ereaders and/or tablets scattered around our homes and work places. The software and procedures for creating, buying, and sharing books and magazines will become easier, cheaper, and more pleasant.
Sorry! In addition to being an author, I'm also a software and systems engineer who's been tasked both at NASA and Boeing to predict future tech. Sometimes the extrapolation habit kicks in!