Most handheld platforms have some sort of bible, or religeous text reader. An excellent example would be bible+ for the palm platform. A good generic approach so that the reader was designed to read any religeous text would be a good idea.
This is probably redundant if a good generic ebook reader can be be found/developed. What are compelling advantages of a "bible reader" over an "ebook reader"?
Most religeous texts are broken into separate books. Another issue is that individuals may want to see dual language versions with a religeous text (IE, for the new testament, greek/english). Beyond the segmentation into books, each verse of a religeous text is usually noted. If I were reading a traditional book, I wouldn't care what verse I was reading, but with a religeous text, the verse/line pairing is important. I am fairly sure that these approaches are true of all abrahamic religeons, however, I would suspect that they are also true of other religeons as well.