I had the same question a couple of years ago. For what it's worth, I wrote
a short blog post which summarised the information I found. The relevant point was:
Quote:
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Perhaps the worst feature is that your books no longer exist as separate physical files in your computer. .... the app now stores all your books in an internal database which is inaccessible to the user - in much the same way that iTunes stores your music tracks.
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That was true when I wrote the above in 2013. If it no longer applies, I'd welcome a correction.
Mike