Did you update the firmware and notice much of a positive change with the refreshing issue?
Unfortunately I won't get my hands on it until Monday now, so I'm not sure about firmware etc. I'm not really worried about the screen refresh speed tbh. I am used to my wife's Kindle and that's why I noticed it but it is only a split second slower and I did like the touchscreen page turn. I haven't even looked into firmware updates, which is unlike me when it comes to electronic goods, because I would be quite happy with it out of the box.
I have tried to read ebooks on my phone and family iPad and an e-ink device wins hands down for reading comfort and eye strain. They may not be as fast to re-draw as LCD devices but you don't suffer the same glare and fatigue, so they win for me.
If you are going to look at the demo models make sure you compare the Touch to the basic model and you will see they are worlds apart. The basic Kobo isn't a patch on the Kindle but the Touch is a real alternative.