Even if it sounds like a good idea, personally i think it has a few drawbacks too.
- My personal experience thought me that using a gadget for learning (e.g. reading on the iPad) makes me less learning because i have the whole world at hands and are easily disturbed.
- What happens to your Books after you finished the class? Do you still have access to them? What about a few years in the future? I still use my almost 20 year old schoolbooks from time to time to read about something i forgotten.
- What about annotations? Sure, it's a device question but didn't you wrote some additional information into your plain old textbook?