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I have a different take on this that most previous posters. In the US, it is "fair use" to take a printed book, scan it, and produce an ebook - provided it is for your own use only. I can't see any difference, for DRM-free ebooks, in reversing the process, converting the ebook to PDF (say), "printing" it on your personal printer and binding it into book form for your own use. Both of these are non-commercial media/format shifting, which is almost always fair use under pre-DMCA copyright law. DMCA might have changed this for DRMed ebooks, but even with DRM my own view is that personal use DRM stripping and media/format shifting is legal.
The issue is with "printing", which might imply multiple copies. If you make multiple copies, and in particular if you sell them, then this is not covered by fair use. As Rob Lister said, when multiple copies are involved start with books that are out of copyright.
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