So far as I can tell if you have the ability to run your own web server and can setup links to download files from it via http you should be fine. Naturally you would want good security and you would not want to give access to other people to ebooks that you do not have rights to, Amazon ebooks or ebooks from other pay sites. So far as I can tell you could also give open access to those ebooks that are in the public domain but I'd be very cautious about public domain ebooks from sites like here or Project Gutenburg.
Basically if you have the skills you can do it for your own access and pleasure but you might run into serious issues if you open your site to the public.
I'm still considering whether it is worth the work or not.
