The company is expected to unveil a new version of the Kindle. What everyone’s looking for is whether the new device will more closely resemble the Nook Color or the iPad. In other words, is this going to be a souped up version of an electronic book reader or a real live tablet that could really complete against the iPad. We’ve heard rumors that the device will NOT feature the Kindle e-ink, suggesting perhaps more functionality than mere reading but we’ve also heard about a $250 price point, which would be reeeeeally dirt cheap for a full scale tablet. Amazon doesn’t mind taking a loss to lead to more sales but that would be a pretty big hit on an iPad equivalent.

Of course, the Nook Color is already seen as something of a low-end tablet on its own. Bah, we’ll find out Wednesday. Just in time for holiday shopping.