A trio of researchers at the KAIST Institute of Information Technology Convergence have put together demo reading app for the iPad. It doesn't support any new ebook features, but it does have a number of innovations in how you interface with the ebook you're reading. The researchers have studied some of the ways that we are all used to using paper books and tried to adapt them to touchscreen based tablet like the iPad.
As you can see from the screenshot above, they've found way to duplicate the way you might use your fingers s bookmarks. They also managed to invent a few new ways to manipulate an ebook, including a multi-finger swipe to turn several pages at once.
It's fascinating concept, but I'm not getting excited until I can use it.