The formatting rarely bothers me at all. It's the words that are important.
I can see the advantages of not wasting space with blank lines, but I can live with it. The major formatting that issue that winds me up constantly is the idiotic handling of widows and orphans on my kobo which leaves massive gaps at the bottom of pages and makes you think it's the end of a chapter, and that's a kobo software issue not a book format issue. (My kobo is probably not up to date, I should add.)
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