E-readers are increasingly popular personal devices, but can they be effectively used for the needs of academic libraries' clients? This paper employs an evidence-based approach that examines the role and efficacy of implementing an E-reader Loan Service at McGill University Library. Suggestions are offered as to what lending model and device features best meet client needs. Observations are made based on the lessons learned from active use. The paper also examines relevant issues, such as electronic formats, Digital Rights Management, and the role of e-readers as library technology that facilitates the ideals of mobile learning. (Contains 36 notes.)