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The DRM is in principle separate from the ebook format, although most DRM is tied to one format because each company develops their own format and DRM. Adobe is the only vendor currently adding DRM to ePub, so Secure Adobe ePub is only readable by Adobe Digital Editions (on Windows or Mac Desktops and on the Sony Readers). This is unfortunate, because ADE isn't a very good product and it isn't available on most device types.
FictionWise has said that they will be adding ePub to eReader, including ePubs with eReader DRM. However, this may take a year to implement (and companies change their minds all the time). The unknown is whether publishers will support ePub with alternative DRM schemes. In some ways it simplifies their production stream, but it also potentially magnifies consumer confusion.
Anyone can implement ePub, and it even has its own "standard" encryption scheme (which no one is using). As you say, the reader software providers make their money out of DRM so they have no incentive to change this part of the publishing chain.
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