Yup! It’s being done. And there are new, more creative ways to get your ebooks all the time. I’ve been following some of the methods, but most leave you with tiny, ugly notepad typestyles.
Then I found this particular ebooks for iphone video, which gives a great overview of using the PDF download functionality alongside Safari to have a fully illustrated and scaleable ebook on the iphone. Not sloppy!
When I get some time, I’m ALL OVER this one!