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Well, you have to remember that PDF annotation is all third-party programs, and they don't tend to play nice. You can easily synch ePuB annotations.
Yes, it'd be relatively easy, if time consuming, to write a DVI driver for ARM-based CPU's, but there isn't one yet. Who's going to write it? Remember that it's going to add to, rather than remove market fragmentation, and ePuB has only just been chosen by Sony, Google, etc. to consolidate arround (and importantly, it's a standard, so they can't be accused of anti-trust or locking people out).
I have to disagree on PDF's overhead thought - it is anything but insignificant. Not every reader out there has a SD slot, and even ePuB has a lower page count than LRX on the Sony's because it's less efficient - PDF's are even less so, by a larger margin. Minimal rendering was not one of the PDF design goals, and neither was reflow - PDF reflow is absolutely and totally dire at present, and Adobe don't seem to have any plans to address it, prefering to advance ePuB.
We're back to Better Is Worse. Applying that to ebook formatting makes a lot of sense, where PDF's effectively apply the MIT Approach.
And, um, it's pretty trivial to write MathML graphically. Indeed, I've never written it any other way. It's also used in a large number of apps these days which have nothing to do with TeX whatsoever.
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