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Elfwreck's got it exactly, at least from my perspective.
I still buy my hundred dollar Absolute Editions and other collectible volumes, if anything I buy more of them now. Ebooks replace paperbacks - they're perfect for disposable reading.
That's one reason why I'm not so concerned about the $12-15 price point for ebooks of current hardcovers - they aren't the books I'm looking for. I want my $5-6 ebooks of current paperbacks, because those are the books competing for my ebook dollars.
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