I've looked at the FB format some more and I see one huge problem with it for handheld devices: the fact that everything is stored in one giant XML stream. This introduces scalability problems in any program that has to render the document under low-memory conditions. It doesn't seem the FB format was designed with handheld use in mind.
Precompiled binary formats (Plucker and iSilo, for instance) are much better suited for handheld usage.
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