I buy mobipocket, since I can cut it 'free' of its DRM in order to be able to read it on my PRS 500. If a book however is available as a multiformat, I'll try and download it - if possible - as both LRF (Sony) and epub for backup, since the latter's a non-proprietary standard format and thereby may stand a chance of surviving the ages. If I'm forced to make a choice from those two latter formats, I'll pick epub, since Sony's LRF format is deeply proprietary.
I don't buy DRM-ed epub books at all, because - as yet - there's simply no way I can convert them through Calibre.
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