It's a great idea.
For the various sites that offer books in epub, kindle, and web/html I get the impression that they made the web html first and I've always wondered if it wouldn't be easier or make more sense to start with epub. On the one hand it shouldn't make any difference which format is used for the starting point but when they start with web html they often add stuff that's nice for the web but a hindrance in an epub that'll be read on an e-ink device; background colors and whatnot, and that stuff ends up in the epub.
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