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EPub is easier to edit so that's why I prefer it. I have no idea how to edit a mobi book.
Also ePub is more powerful as far as what formatting is possible. I think we would get better formatted books if the publishers did not have to target the lowest common denominator, meaning mobi. By better fomatting, i mean formatting that is closer to the printed books. Amazon would do everybody a favor if they switched to ePub. Of course they could still use their proprietary DRM if they want to.
(people seem to be conflating drm scheme with format, they are different and separate)
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