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Yes, but the .acsm can be used in the future as well, only to download the book onto a a reader app/device which is logged into your ADE installation.
The .acsm file can be viewed as the "key" to the book, where that "key" must fit into the right "lock". The "lock" is your Adobe ID, and if you can match the key with the lock you get the book.
This is useful if you move to a new computer but don't transfer your Digital Editions folder. You can still go back to the store website and redownload the .acsm and open it with ADE to get your books back -- as long as the ID matches.
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