Poetry, like song or play scripts really needs performed. Some people can get little from it unless it's at least read out loud.
Even old mobi is fine to display the text so it can be read as it can do suitable indents. Some publishers try to be too clever or try to exactly recreate a particular printed text. We certainly don't need illuminated or drop caps, colour or other prettification that merely makes the page look pretty. It's the content, sound, rhythm and meaning that matters.
Read Tennyson or Wordsworth or Shakespeare as if reading normal fiction, then read out loud, then record it dramatically (phone, tablet, PC, cassette etc) and play it back to see what I mean.
Of course some people can read written text as if they are listening to someone brilliant reading out loud. Some people find the smell of old paper or fancy drop caps and illustration greatly add to their experience. IMO poetry ought to be performed, recited or at least spoken.
Probably the only text I've seen that absolutely needs layout not possible on mobi or basic epub is Lewis Carroll's "A mouse's tale"
http://bootless.net/mouse.html
Quote:
"Fury said to
a mouse, That
he met
in the
house,
'Let us
both go
to law:
I will
prosecute
you.—
Come, I'll
take no
denial;
We must
have a
trial:
For
really
this
morning
I've
nothing
to do.'
Said the
mouse to
the cur,
'Such a
trial,
dear sir,
With no
jury or
judge,
would be
wasting
our breath.'
'I'll be
judge,
I'll be
jury,'
Said
cunning
old Fury;
'I'll try
the whole
cause,
and
condemn
you
to
death.' "
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But even that could work on mobi if you changed the indent on each line by editing the HTML & CSS in an epub and converting to old mobi.