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I buy from Smashwords; it's the only self-publishing ebook store I buy from. (I don't deal with DRM at all, and I'm not willing to install special programs just to shop somewhere. If I can't buy-and-download as normal files, I don't bother.)
I've run across bad formatting that I believe was from sheer carelessness--uploading files without checking the instructions at all. I've run across many more ebooks that have run-on chapters (no page break for chapters) and no table of contents. I consider those tolerable errors.
I don't browse much at Smashwords, because the search capabilities are exceedingly limited. It's like digging through boxes at a rummage sale; it's fine when I've got no idea what I want and just want something to throw ideas at me, but when I want a specific subgenre or topic, I search elsewhere, then go to Smashwords to see if they've got that specific book or author.
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