There are good reasons to favor paper books over eBooks, but they are more limited than most people think. This post is intended to clarify what is and is not a good argument, using the most common ones I've come across.
(NOTE: The first two arguments are actually TRUE for the iPad, which is more of a tablet than an e-reader.)
1. "I get a headache looking at a computer screen for too long." FALSE. Not that you don't get a headache, but that you're not looking at a computer screen. E-readers treat your eyes more like paper than anything. The screen reflects light like paper, rather than shining light into your eyes. And it doesn't constantly refresh (which is what causes the headaches). If you've never tried an e-reader, I'm not sure you're allowed to use this argument.
2. "You have to charge it everyday just to read." FALSE. Because the screen isn't constantly refreshing, the e-reader only uses power when you change the page (and then not very much). Unless you leave the wireless connectivity on all the time, the battery could easily last a month or more.
3. "It doesn't look/smell/feel like a real book." TRUE. It's smaller, lighter, and lays flat on the table.
4. "You can't loan books you love out to friends." FALSE...ish. You can loan, but it's limited. Honestly, this is my biggest hold-out too. But it's also my biggest draw because I could borrow books from anyone in the world.
5. "You can't borrow e-books from libraries." FALSE. You can do it without even leaving your home (though not with a Kindle, apparently).
6. "E-books cost as much as, or more than, a paperback that I could loan to my friends." Varies. Some are more expensive. Some are cheaper. Really, it's up to the publisher, and publishers are still figuring this out. Meanwhile, there are hundreds of (legal, non-self-published) books you can download for free.
7. "DRM sucks. You have to tie yourself to a specific device forever." TRUE. It'd be nice if we could just pay for the e-book and then copy it as much as we like to whatever device we like. But you can see why that's a bad idea in general, right? On the plus side, if you lose or break your device, you can still get all your books back.
8. "You can't take an e-reader in the bathtub." FALSE. I mean, no, you can't put it in the water, but you can't do that with books either. You could put the e-reader in a plastic bag and still turn the pages, which is something you can't do with books.
9. "You have to turn your e-reader off during take-off/landing." TRUE. What? You thought I had a backhanded counter for everything?
10. "You can't trade/sell/buy used books." TRUE. It's possible Amazon and others will have programs to trade in old e-books for new ones, but I wouldn't count on it. And no, the concept of 'used books' doesn't quite fit the e-book paradigm.
Like I said, there are good reasons to favor paper books, but they're limited--and getting more limited every day.
Know any arguments I missed? Disagree with my reasoning? Let us know in the comments!