Well, crap. After endless months of annoying people on Twitter and in real life bemoaning the lack of competitive choice in the Canadian eBook marketplace, it is time to put up or shut up.
So: hello Kobo. It's Canadian. It reads ePub format, so it's not intrinsically tied to any storefront or DRM. It is affordable enough to be written off as a drunken whim (not quite the $100 entry point I was holding out for, but oh well).
It's almost as light as my iPhone, which is disconcertingly strange.