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While the Sony Reader will not read LIT or mobi formats directly, it's now become trivial to convert them to LRF so they can be read. And to be honest, there is no perfect device just yet. I've found that you wiull find ebooks not available in the format you want but available in other formats. Not every ebook is in Mobi format nor BbeB or LIT or even eReader. The only way to have a device do what you want is for epub format to take off and become available on all the readers.
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