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Calibre does a good job on DRM-free MOBI, and LIT and eReader ebooks. However, the "Secure" ebooks at FictionWise have DRM.
Stripping DRM for personal use is not thought by everyone to be legal in the US and some other places. If you go the DRM-stripping route, the best format is LIT (requires a Windows PC), followed by MOBI and finally eReader. If the ebook is entirely text there will likely be very little to choose between the formats. The preference order comes into play with illustrations and ebooks with more internal formatting than is typical.
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