Just FYI, I've tried using O'Reilly's Bookworm on Playbook and it actually works very well. There you can upload DRM-Free ePubs.
The only problem is that you're actually reading it online, so a network connection is mandatory. Depends on how/where you plan to use it, it could be a workaround. The mobile version is quite good for the Playbook browser.
Thanks
Paulo
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