Here's some numbers for three books (first number is location, second is hard cover, third is mass market paperback):
Flag in Exile - 6741, 416, 480
Echoes of Honor - 11843, 592, 736
War of Honor - 15633, 880, 976
There is no consistent ratio of locations to page numbers.
I will say that 15633 seems really big, but I'd much rather have the e-Book than to carry an 880 page hard cover book or read a 976 page paperback.
Dean