Non DRM ePubs work well in iBooks. You have to follow the extensive instructions on this site to remove the DRM, but once you get the hang of the process it is not difficult. There are also instructions for adding nice colourful covers, giving your iBooks a very nice visual appearance to reward your efforts.
If Adobe don't come up with an iPad ADE very soon, the world will go Kindle. The iPad app is very nice (not quite as good as iBooks, but close, and it's software so the gap can be closed), and the new devices are the perfect cheap complement to your iPad so your family can share your Kindle books.
I give ePub twelve months tops!
amjb
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