I could eventually find what I was looking for, but I was trying to find verses quickly during a Sunday School class. By the time I found them, the teacher was already on to another verse. It just wasn't practical. There may be some that are better than others, but I gave up after my first experience. I was hoping that I wouldn't have to carry my Bible on trips, but I have a small one that doesn't take up too much room. I'm afraid that's the only book that I prefer not on my Kindle.
I know exactly what you are saying. The first book I purchased on my Kindle 1 was the ESV version of the Bible. I also quickly learned that navigating the Bible in study is quite a challenge. From my experience the main reason is the paradigm to which the Kindle is designed. The device is primarily designed to read sequentially; books, magazines, newspapers, are normally read one page after the other. Magazines and Newspapers are similar to the Bible in that people jump from article to article, but each article is far longer than a Bible verse and as such does not require jumps as often.
I have been using my Kindle anyway and I've learned to use the "Go to table of contents", and the "Back" button to improve my performance, but overall for studying I prefer three different ways. When in a group that studies the Bible more sequentially I may use the Kindle, if the Bible study jumps all over the Bible, then I prefer a paper version, on my own or with a group that deals well with it I like to use my Libronix Digital Library (on my laptop) which is software specifically designed for studying the Bible.