Just found this thread through google. There's another way that works really well: use man to format the page as html and send it to Calibre:
Code:
man --html=calibre xyz
(where xyz is the command whose man page you want).
This sends an html-formatted man page directly to Calibre, where you can then convert to ePub. (I don't know if this works with all versions of man, but at least on Ubuntu 11.10 it does).