Only the Sony's will read LRF, but there are conversion tools (
LRFTools. Convert LRF to EPUB, HTML, PDF and RTF) and if you used Calibre to create the LRF from some other format then Calibre can now create ePub or MOBI from the original format (but not from LRF).
The BeBook firmware includes LIT and HTML support, but I find (using the Hanlin firmware, which is similar to the BeBook's) that FB2 has the best support followed by MOBI. Only MOBI allows DRM. If you don't care about DRM support, then the best option of all is to install OpenInkPot, which is Open Source firmware for the Hanlin V3. You can either reflash the firmware or use a "live" version on top of the original firmware. The OI does not support LIT (
OpenInkPot do .lit natively?), but it now has both FBReader and Cool Reader 3 for DRM-free ebook formats.