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I think it is a false assumption to assume that any e-sale replaces a print sale. I know that I, for one, have never bought a hardcover book in my life. It is too expensive. If hardcover is my only choice, I get it from the library.
Get the price down to my 'impulse buy' level otoh and I will buy instead of borrowing---moreso with ebooks than with paperbacks because I don't have to worry about storing the physical book when I am done. I love books, but have limited space to store them so I reserve my purchases of print books to things like fitness books or cookbooks where I need to see the whole page at once and it is worth it to me to have it on paper.
So for me, for fiction anyway, the equation is not 'p-book or e-book' it's 'nothing of e-book.' In which case, having an affordable e-version means they get a sale where previously they would have no sale at all.
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