The Kindle DRM wasn't hacked to REMOVE the DRM from Kindle purchases, but added to other books so that they too could be read on the Kindle.
The Kindle has many flaws, but it does allow you to read a few different non-DRM formats.
The hack allow ENCRYPTED Mobi files to be read on the Kindle. So you can buy a DRM-protected mobi book and read it on Kindle.
Granted the PDF converter seems to have some trouble with graphics PDF's, but for books the converter works very well.
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