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After the nuclear war, the EMPs will make all digital data unreadable, including txt and PDF, so don't sweat format in the long term.
In the short term, don't sweat format either. Yeah, Amazon's format is 'proprietary' but it's fully workable by open tools nonetheless. If the books are free of DRM, you can convert between formats at your whim. If they have DRM, it's the DRM that will limit you, not the format.
Epub is a somewhat richer format than mobi in terms of formatting options, but that's only relevant if the content you want uses those options, and new Kindles also support KF8 format, which is just as rich.
Don't buy based on format unless everything else is truly equal for your needs and you are down to a coin toss.
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