Memory size is not a big issue if you are just using it for books. The smallest memory available on a Kindle is enough to hold thousands of books.
The Oasis is not worth the premium price in my opinion. It does have page turn buttons, which I like, but it is heavy and awkward to handle because of it's shape.
If you plan to read magazines or something heavy with illustrations, go with the Fire. You can resize the screen and blow up pictures for a better view. It also displays in color.
Go with the ones with ads for a reduced price. The ads are just on the title screen and are no big deal. They do not put ads in the middle of books where they will disrupt your reading.
Some of the Paperwhite and the Oasis are "waterproof", if that is a feature you need.
A cover is nice to have. I think they are a bit pricy for what they are, but they sure make the unit easier to handle and keeps the reading screen cleaner.
Free books is another big advantage. Many classics and some promotional books can be downloaded for free. Many others are available for under three dollars.