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For reading fiction, I find the Mobi format to be entirely satisfactory. I am of course aware that there are things it won't do, such as font-embedding, but my need for that is, at present, non-existant. Should my needs change in the future, then of course I'll review the situation.
I've been reading books in Mobi format for a lot longer than 5 years already, so I don't see any particular reason it shouldn't last me another 5 years.
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