I have been keeping and eye on the implications of this Boston article for a number of years when Sony Reader and Kindle started up.
I think Macquarie University has taken a step by step approach. The new library at that is being built has no books ( well very few) on shelves for the students. They are brought up from the depths on a conveyor belt upon request.
Here is a little little collection of links I have on eBooks and eReaders that I just grabbed from my Delicious:
In sum – Australia has a few online transfer issues before eBooks can become more mainstream in our libraries. I can envisage in a few years students reading articles and newspapers this way in the Libraries.