There is no guarantee that B&N will stay in business, or that Amazon won't discontinue support for older Kindle files, in the not too distant future. This is something that the hardcore readers cannot help but be aware of, because it has already bitten them in the past, if they bought a Zune, or a Palm Pilot, or any number of other devices.

So true. I'm struggling to keep the books I bought for my Palm Treo alive. I can't read the ebook copies of William Gibson's Neuromancer trilogy because they were done as protected HyperCard stacks. The only reason I buy eBooks right now is that I know I can break the DRM if I need to. (And in fact, breaking the DRM on my Kindle books is what I'm going to do right after I finish reading the rest of this article.
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