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This is a serious issue for CAD files where I work. We've got machines whose component drawings go back > 40 years (all the way to hand-drawn vellum) and through a series of completely different digital formats. You have to dedicate time and money to keeping files accessible (both media and format) over time.
For photos, for example, I scanned all my slides and moved everything digital off old zip disks and floppies, onto CD's, and now onto DVD's.
I'm not sure what to do about the e-book formats yet but I'm doing the same thing with e-book media, copying files to the latest 'standard' (Blu-Ray is probably next for me).
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