There is one major advantage to ePub over KePub. Kobo in their infinite wisdom decided to break monospace fonts. So if an eBook uses monospace, it won't display properly. But with ePub, all you have to do is find a monospace font family you like and change the internal name to Courier for the font family. Put the fonts in the fonts directory and you'll be able to easily use monospace fonts with ePub.
With KePub, you have to embed a monospace font.
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