I guess if it was me I'd buy the LIT and go from there. I know there are big hopes, but I haven't really seen any indications that it's going to turn into a format that's standard across devices. I'm not really up on ePub DRM, but AFAIK it's similar to/the same as PDF DRM and controlled by an Adobe ID. Might want to check BoB and FW to see it they have to books you want too, the price might be better.
To answer your questions...
1) If it was me LIT
2) Correct
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