Personally, my reasons for disliking PDF is precisely because it preserves formatting. I prefer to have my text reflowable depending on my desire for font size and reading device. At my age, I start the day being able to read a fairly small font, but as the day progresses, and my eyes become more fatigued from staring at a monitor all day, I prefer progressively larger font sizes.
PDFs are nice for things I intend to print, but if I expect to read it off a screen, I would rather it not be in PDF format.
I do print meeting agendas to PDF and drop them on my iLiad, but only because I use the iLiad to take meeting notes right in the agenda. But, I plan for large font sizes (usually around 14pt) to make it easy to read. Most books are printed with 9 to 11pt type. Add to this multi column, only seeing a portion of the page (if I bothered to rotate the iLiad's orientation), and my reaction is "why bother."
For my use, PDF = Fail for ebooks, especially text books.
I'm presently reading a couple of tech books in CHM format with FBReader and finding it quite capable of the job.
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