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I don't think anyone can really find too much fault with the sort of format shifting most people probably do, or even pirating a book that isn't available in your region and then buying it when it does become available. As long as the author is getting compensated for his/her work, great.
Although I guess this gets back a little bit to the entitlement thread; why do we feel that buying a book in one format entitles us to another?
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