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be careful about confusing the format (epub) with the rendering engine (adobe). the things you mention disliking are due to the way sony uses the adobe renderer to display the files, not the files themselves, nor the format. for example on the cybook opus, i believe the page numbers are not displayed in the side margins.
having said that, to answer your question, i don't believe epub should be the *only* format (although i do believe it should be supported universally, meaning every device should be able to read it, and every book should be available in it). there are times when a simple .txt file is good enough, anything more would be overkill. there are some layout options which work better in pdf (for the moment, at least). i am glad to have epub as a standard format and it's the format i prefer, but that doesn't mean other formats should necessarily disappear.
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