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I am no fan of DRM-ed books, but given how expensive they are then if, like me, you want to reread books later (perhaps years later) the best options today appear to be either MS Reader, because its encription can be broken (more accurately it can be side stepped), or MobiPocket. The latter because they have a history of both providing wide device support in-house and (limited) licencing to 3rd parties for their reading devices. I suppose Abobe Reader is an option, but I have never even considered it because a multi-device format must be reflowable.
Mobipocket format is also a reasonable choice for non-DRM books because it is readable by 3rd party e-book reader software and if you have a Windows PC Mobipockets own software is "good enough" at converting HTML and RTF to the Mobi format (it seems to be less good with PDFs). The converted files are DRM-free and can be read by 3rd party software. By the way, Mobipocket files usually have the .prc extension and are often called PRC files, although Palm's .prc extension can be used for many purposes. Sometimes .prc files are actually in Apportis Doc format (also readable directly by the Mobipocket reader). The file command under Linux will correctly identify the file type, but some Mobipocket files incorrectly advertize themselves as Apportis files. This only matters if you have reader software that does not handle both e-book formats.
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