Thanks to www.engadget.com – almost as good as being there!
“iBooks. We are bringing it to the iPhone with the iPhone 4."
"We’ll have it on the iPhone, the iPad, and the iPod touch. What can we do with these together? First, you can purchase and download a book. It will download wirelessly. You can download the same book to all your devices at no extra charge. Buy it on your iPad, download to your iPhone. And iBooks will automatically and wirelessly sync your current place, all your bookmarks, and all your notes." No extra charge? We’ll take it.
With notes able to be added!