The "Secure" ebook formats that FictionWise sells have DRM. The multi-format ebooks are DRM-free. Calibre only format-shifts DRM-free ebooks.
Of the secure formats, the DRM can be stripped from MOBI (mobidedrm.py), eReader (ereader2html.py) and MS Reader LIT (ConvertLIT GUI). Note that removing DRM is generally thought to be illegal in the US and several other countries. If you have a choice (and a Windows PC), LIT is the best format to convert to LRF or ePub. The other two are ok sources as well, and don't require Windows.
If you don't want to strip the DRM, the Sony PRS-505 reads Secure Adobe PDF and ePub. Fictionwise sells secure Adobe PDFs, but seems to be phasing them out. Books on Board is a good source in the US for Secure Adobe ebooks.
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