Mr Challies, who carries a decent slugging percentage in the reformed world, has posted a pretty good summary of Logos today:
http://www.challies.com/articles/is-it-time-to-move-to-logos
He's got to keep up with the times a little bit (e.g. Logos is offering rentals now, which might add some nuance to his "no lending/no borrowing" point).
Anyway, it seems like a fair assessment, and might be a good FAQ-style article to point someone to when they come to the forums talking about Logos vs. Books and Logos vs. Kindle.