Accented characters and certain glyphs (like AE) are the key differences. For most books in English there will be no difference. Some installations will have a hic-up with US-ASCII and need the ISO-8859-1 version. Some of the Gutenberg texts that I have used as basis for ebook creation have been available in US-ASCII only. When possible I favor the ISO-8859-1 version. Jon has had a great deal of success using the HTML verson of the Gutenberg texts.
Either choice will yeild a great result.
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