I edit the formatting of every ebook I purchase. There are lots of things about formatting that bother me (spaces between paragraphs, too big indents/margins/line-spacing, various problems with fonts and font sizes, and so on). I'm really OCD about those things. Very few books are formatted the way I like, and the formatting issues distract me terribly so that I'm unable to read the books without editing them first.
On the other hand I never bother with typos, repetitive phrases and the like. I can tolerate those in moderate amounts and if the amount is far from moderate I'll usually just ditch the book altogether. It would take far too much time to correct typos and phrasing.
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