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disclaimer: I don't own a reader yet, and I've only done a limited amount of reading on my iPhone.
I'm excited about this news. With Sony adopting an already common format as it's main format, it will increase adoption of ePub for the industry. If everyone sells the same books in the same format that can be accessed on any device, a natural outgrowth of that will be competition between sellers for business (just like a physical bookstore, imagine that!)
As for DRM, I don't like it, but I think it'll be with us for as long as the industry thinks it's an effective means of preventing piracy. They're afraid of what's happened to the Music industry (part of their problem is that they don't understand that there's a difference in the type of content that's exceptionally important.) DRM will go away soon enough. (Well, almost soon enough. Soon enough really would have been yesterday.)
Also, I think format behaviors and concerns are not worrisome. Formats grow. With a standardized format, it will likely receive greater scrutiny.
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