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Haven't tried the kobo reader. The iBook app is great. I've not bought a single book from Apple but merely loaded my Baen Free Library pubs and they work fine. If you want to read your kobo books in the iBook app, you could liberate them from their drm.
The kindle app works great as well. I can switch between reading on my iPad and reading on my iPhone and the kindle app keeps them sync'd.
Lee
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