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I expect problems when/if Amazon switches to ePub, similar to those Sony had when they switched from LRX. They'll announce that their books are all going to be available in ePub--except the ones that have been pulled off the digital shelves (perhaps because the title has switched publishers); those books will only be available in mobi format to people who've already bought them.
If they issue a new Kindle that only reads ePub, or a new firmware update that does the same, people won't be able to switch their full libraries to the new version.
And while ebooks are very, very profitable for Amazon right now, as soon as they're not, they'll pull the plug on the whole project. Amazon sold PDF ebooks from 2005 to 2007, with DRM and extensive restrictions, and ended the whole line while they were getting ready for their Kindle sales. Otherwise, they may remove all self-published titles if they get hit with a lawsuit for infringement for not checking the content before selling it--the Safe Harbor exemptions get a lot shakier when you're making a profit off what you're allowing to pass through your servers.
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