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What I want to know (since I haven't used Mobipocket since my Windows 98/ palm pilot days) can you still read Mobi titles you already purchased? Can you transfer them to other devices and read them while their server is down?
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As long as the PID of the device you move the books to was registered at the time you downloaded the books you can still read them.
For example I often download straight to my Dell Axim but my desktop computer and my laptop are both registered so I could move the books to those devices to read them.
If you get a new device it will have a new PID and that would have to be registered. Basically if mobipocket ever blows up and doesn't come back you can read your purchased books until your registered devices fail.