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I use LRF mainly since I know they work on my reader. I also use epub. For some books I have I prefer the epub. Sometimes I'll find an old LIT file I have and I'll convert it to both LRF and epub and the epub looks better. It keeps most of the formating and the letters aren't as big. I noticed that when converting to LRF I sometimes lose the formating that was in the previous file which really annoys the crap out of me. Both are good though. Just depends on what you prefer. I haven't noticed the epub file being any slower like someone up above mentioned.
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