Originally Posted by HarryT
Both LIT and MobiPocket are based on the Open E-Book (OEB) standard, and should be equally good if created properly. It's the fact that both formats DO use the same underlying standard which makes it so easy to convert from LIT to Mobi with no loss of formatting.
I would actually disagree with that claim. Mobipocket uses an entirely formatting-oriented pre-CSS version of HTML with proprietary extensions. LIT uses the markup format specified by the OEBPS 1/1.0.1, which is an XML-ized HTML 4.0 plus CSS 1/2. Most LIT markup uses semantic @classes to identify textual elements like chapter headings, excepts, etc, while all Mobipocket has is pure, lossy formatting. If you have a choice I would definitely recommend going with the LIT version.