Devil's advocate
Everything said above, esp. by kovid, is of course true. EPUB is a superior format, IMHO, and you can do some amazing things (svg equations!, with numbers that are inline links!)
But there are a few nice things about lrf, at least on a 505. I like the headers and footers (having chapter name and book name or author has a nice book like aesthetic to me). Justified text is nice.
These are limitations of the hardware's implementation of epub, rather than intrinsic to the format, but still factors to consider.
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