For me, if I can really sit and enjoy reading and that's all I'm doing I prefer a physical book.

But, electronic books do have a real convenience to them that I have to admit. If I'm reading one-handed (holding a baby, eating a sandwich, etc) I really appreciate a kindle for reading. Also, when traveling, the ability to bring 50 books with me on a flight, or camping, while taking up no space is amazing.

But, yea, for the endurance of the storage media, physical books definitely have an edge in my eye.