I just mentioned PDF reflow because Kobo decided not to activate/implement it because it will not work/guarantee to work under every circumstance.
But they do offer some "extras" that are also not guaranteed to work.
Kobo might think epub2 is almost end of life and are focused to epub3. So I don't think they will make huge changes to their current epub2 implementation.
I don't know how robust the fall back options to epub 2 of the coming epub 3 renderer are. A second dedicated epub2 renderer would tackle most problems.
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