I have noticed ONE difference between KFX's "enhanced typesetting" and reading Kobo epub/kepub.
It's a SMALL difference, but it *is* a difference. And that is that for KFX only (*not* Mobi/AZW3), small-caps called with font-variant: small-caps; in the CSS have a better weight to them and look less like pseudo small-caps.
So, if one reads a lot of books with small-caps, then it might matter, but for most, Kobo epub is just as good. Better, since you have finer control over margins, font size, and line-spacing.
You do lose the ability to zoom images with Kobo epub and you will NOT get pseudo small-caps (unless coded using font-size), and you lose ligatures with Kobo kepub, so there's some decision making to do as to which format you prefer on Kobo. You will also lose pop-up footnotes with the epub format.
I own BOTH Kindle and Kobo devices, and I read epub on my Kobo. It does all I need as far as enhanced typesetting other than the absence of the pseudo small caps. If I have a book that I know has footnotes or is illustrated, those are about the only times I bother with kepub.
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