Ah...

I recommend to you Wade Roush's "The Infinite Library". Book digitization is hardly new (somebody else can make the links):

The Electronic Text Center at the University of Virginia Library – includes over 70,000 texts, 2,000 of which can be downloaded to PDAs http://etext.lib.virginia.edu/

The Making of America – a rich collection of 19th century books and journals from the University of Michigan http://www.hti.umich.edu/m/moagrp/

The Million Books Project – an international library partnership with the Internet Archive http://www.archive.org/details/millionbooks

The Online Books Page – a useful catalog of books online http://digital.library.upenn.edu/books/

Project Gutenberg – the oldest book digitization project collecting simple (and sometimes inaccurate) text files typed by volunteers. http://www.gutenberg.org/

and those are just the non-profit ones.

You might also be interested in Kevin Kelly's article
in the New York Times Magazine (you have to register, but it's free).

There are SERIOUS problems with digitizing all the world's books. Don't look for it to be completed in your lifetime, especially if you're over 40.