I want to thank everyone that has helped out so far. One my main concern is still formats. There seems to be a very broad spectrum of them. Which way is best in terms of the widest format selection? I don't want to be stuck with something that is practically useless in 4-5 years because it lost the "format" war.
Another concern is memory. I read a lot. When I purchase a book it stays with me. The last time I got rid of or sold any books was 20 years ago.

I have a dedicated room in my house as a library. No, I'm not rich, but I am 45, single, kids are grown and I had an empty bedroom. Before that they were stored in boxes in the garage. I want to make sure I can keep downloading books without worrying about running out of room.