I just received the media kit for Sungale's newest ebook reader. It has a 7" LCD screen, and based on lack of a touchscreen and button placement I would say that this was originally designed as a media player, not an ebook reader.
But it does have a reasonably high screen resolution, and the promised format support includes: Epub, HTML, PDF, TXT, as well as common video, audio, and image formats. The recommended retail is $149 and it should be available in May.
At this point it's difficult to say anything other than the device exists. But I can say that this isn't Sungale's only ebook reader. I happened across their booth at CES, where I found the 6" epaper based ereader they're working on.