That's an interesting observation, liems -- I seem to remember getting the impression that a lot of the formatting (font and such) were determined by the publisher. The bit I think I'm remembering was something to the effect that they were having to ... encourage the Pubs to give them files that had font sizes large enough to be read on the Reader.
I know a few of the ones I've gotten from Connect include cover art, but no back cover. In any case, I quite agree that the tactile/esthetic effect is very different, though when I'm not wrestling to keep the pages open or to turn them one-handed I count that as a plus.