Being able to highlight quotes and passages and easily find them again is a key feature that eBooks have over paper books. This activity can also be social – Audrey Watters pointed me to an Amazon Kindle page featuring the most highlighted passages of all time.
I must add that one thing I miss about paper books is the personal touch, for example receiving a book from a friend with their marked up highlights. By contrast, there’s something a bit impersonal about electronic highlighting. But perhaps eBooks will evolve to enable more personal sharing of highlights, perhaps even mimicing your hand writing style.