Amazon's new Kindle is a mind-breakingly cheap $79. Bloomberg originally reported the $79 price. The cheaper model doesn't have touch controls, like the $99 Kindle Touch, but it's faster, smaller, and lighter (5.98 oz) than previous generations.
The $79 price is for the Special Offers version, so if you're totally ad-averse, you'll have to plunk down another $30 for the $109 no-ads model.
The new model also dumps the keyboard from the previous generations, which could be a good or bad thing, depending on how you use the device. It's available to order now and ships today.
Update: If you've used a Kindle, this is no new terrain. But the cheap-o version is appreciably smaller and lighter, to go along with its skinny price. There's no QWERTY keyboard to be found, however—you'll have to click through an onscreen keyboard and select each letter. Which is slow. - Sam Biddle