My estimate would be yes. In addition, if you're going to that much trouble, tag the PDF and it can be used in other venues, and probably look almost as nice.
The problem with this strategy is that it requires a labor of love for each format, and most publishers just aren't that interested in the ebook business. They use PDF to make the paper book layouts because it interfaces with their presses well, not because it's beautiful.
Regards,
Jack Tingle
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