Ricoh are marketing this to businesses, not consumers, and it's more than just an ereader. It's part of a system that integrates both the device and online services with a goal of completely replacing paper. It also offers the security and document control features that businesses require.
The only time it has shown up in public was at the AllThingsD conference, and compared to most E-ink ereaders it was a speedy little bugger.Click through the link and you can see a video which shows off some of what it can do.
The eQuill was supposed to be out by now, and last I heard the project retail is around $500.