This is my second Oasis, after buying the 1st Gen when it was released. These are lovely devices, although I'm not sure I can wholeheartedly recommend them to anyone who doesn't have the money to spend on a luxury item. If you read every day and want to own the best of the best, then this is a nice gift for yourself. But the Paperwhite is definitely better value for money and there's not a significant enough difference in quality to justify the price hike.
The big thing to remember with Kindles is that the quality control is not great. I received my third gen and the power button was loose enough that it rattled when moving around. I was sent a replacement and while the power button was better (although still a little loose) the colour of the backlight was completely different from the one I received a few days earlier (a lot colder and pinkish in places), and also less consistent across the screen. In the end, instead of trying again for a perfect device, I've opted to keep the original device with its loose power button because this bothers me less than the bad backlighting.
If this device was a Paperwhite, these hardware issues would be less important. But again, this is a luxury device and I think you have a right to expect something at this price range to be close to perfect. Amazon customer service is always excellent though, and this goes a long way. Just be warned that it can be a bit of a crapshoot when you buy.