ConvertLIT, which is most probably illegal in the US by now, allows you to circumvent Microsoft Reader DRM. V1.8 was just released, and comes with the following bug fixes and new features:
- Dictionaries are now properly expanded,
- completely rewrote space handling, to fix "italics" bugs,
- changed compression library to a new version to fix rare hangs,
- create subdirectories. (Use "-d" to disable).
As always you can
download the program and its sources for free.