The iPad app downloaded the full books for me, both free books and books I had paid for (including one I paid for that "has no download files available"--which was the reason I installed the app in the first place). Once the books downloaded, I was able to turn the iPad's wifi off (it's a wifi only model) and still read them.
All of the books I've paid for look good, both on my iPad and, in the case of those that have epub downloads available, on my Sony.
And I like that I have the option of looking at the scan or the flowed text when I'm on the iPad.
I rate Google's Bookstore as on par with any other ebook retailer, and I'll buy from them whenever:
1. The book I want is not available elsewhere, whether Google offers an epub download with it or not, or
2. The book I want is only otherwise available in Kindle Topaz format and it's the same price as or cheaper than Amazon and download files are available, or
3. Google has the lowest price and download files are available
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