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The DRM thing is a total red herring. Buy from Amazon, or ot: your choice. Buy from Kobo or not: your choice. Borrow from the library or not: your choice. None of these requires "complicated DRM" -- get a Kindle and a Kobo (or a Sony ereader) and you have access to almost everything in ebook print in English.
You can get each ereader from $100ish or get an Android tablet for $200ish. I have a Kindle 3 and a Kobo Touch -- these deliver all three formats of books. Even easier: the Kobo Vox tablet (a $200 open Android device) which holds the Kindle app, Kobo app and public library Overdrive app.
There's no need to convert anything to anything ... just go ahead and read and enjoy.
I dunno ... sometimes people seem to deliberately make things complicated.
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