I have said it before I am a big reader now. There are many reasons I love the iPad. I can write, surf the web but reading if a key feature of its use. This can come in the form of RSS feeds through Reeder or more commonly books purchased through iBooks ( the Amazons Kindle app is nice to but I prefer iBooks). Reading on the current iPad with the Retina display is fantastic.
I love the iPhone as well. It is the probably my second favorite Apple device ever after my MacBook Air. It is a personal computing device in my pocket. But I have relegated it to email, texts, music, podcasts etc. I have never thought of it as a reading device.
I just finished “Insanely Simple” by Ken Segall. I purchased the book on my iPad through the iBookstore. I quickly got engaged in the book on my iPad. for me it was one of those books I could not put down. but whipping the iPad out at the Drs.. office or while sitting in the coffee shop did not always work. But I was really hooked on this book. So I turned on iBook synching and I had a few books download to my iPhone.
The first time I opened the book it immediately went to the last page I had booked marked on the iPad. I figured what the hell I had a few minutes so I thought I would give it a shot. As soon as I started reading the header and footer of the book disappeared giving a larger viewing area. 
iPhone BookmarkiPhone Full Screen
I started reading and found I really enjoyed it. I was completely surprised. The retina display makes the text look gorgeous and the reading experience was very nice. I found over the course of reading this book I was finding myself using this method more and more. The other night I went to bed and forgot my iPad but had my iPhone on the bedside table so I picked it up and continued reading. Reading on the iPhone is certainly not for everyone. I don’t think the current magazine subscriptions would lend themselves well to the small screen but I think it is perfectly acceptable for a book and I recommend everyone give this a try at least once.