But is not stripping out DRM illegal as well?
It is illegal, but in my opinion, not immoral which is what I live by. If I spent money to buy a book whether it be a hardback or ebook, I should be able to read it on any device I choose.
A free program out there called Calibre is awesome for keeping your ebook catalog, converting the format from one type to another and many other useful features.
http://calibre-ebook.com/