Borders Books is about to release their Kobo eReader, so I grabbed the iPad version of the software to give it a try. I have to say that I still prefer Amazon's Kindle software, both for looks and ease of use.
Kobo uses the same bookshelf look that you find with iBooks.
The store interface is also similar to iBooks, but it does seem easier to navigate. Response is slower, but I'm sure this will change.
Now, if you use the "Jump to" button on the store interface, you have your choice of Home, Top 50, Browse Categories and Recommended Reading. It's the last one that got me, with a stupid little snark.
Whoever is responsible for that juvenile swipe should be embarrassed. Publishers are still hashing out contracts with the major ebook sellers. There are books available from Apple and Borders that are not available from Amazon.
Actual reading gives you a choice of 4 typefaces (Georgia, Baskerville, Trebuchet & Verdana), sliding sizes, brightness control & white on black, and variations on page flipping. It works well enough, and prices are comparable to Amazon and Apple. As with the others, the app is free, and there are a number of free books packaged with it so you can give it a try.