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I got in late in this conversation, but wanted to give my 2ct:
I never found the Epub format lacking.
You can easily convert from HTML0,
You can use a reader to specify a different font in case you like,
I created a bible out of it (66 books, and about 1000 chapters), with about 6000 hyperlinks (mostly to next chapter, previous chapter, index, and other chapters, as well as a hyperlink based TOC).
Titles could be centered as well...
In fact, I thought the problem was that it was harder to make titles out of center alignment.
The only device I've tested it on which had problems processing was my aged Sony PRS505 (5+ year old technology), which I guess got overloaded with all the links.
But most other devices have more memory, and faster processing, seem to be handling the data quite fine!
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