I had a friend ask me about ebooks yesterday.
I am used to the price of ebooks. Yes, they may be shorter, and the ones I downloaded yesterday morning were $6.49. So they aren't really inexpensive.
But, if you're writing for a publishing company that specializes in ebooks like Cerridwen Press, an off-shoot of Ellora's Cave, you get very little (if any) advance but quite a bit (30%, I think) of royalties.
If you're writing for an established New York publisher it does, of course, depend on your contract, but it is nowhere near that amount, definitely under 10% (usually much lower than 10%).
I have an old Casio ppc that I love, that I bought because of its big screen to read ebooks on. Problem is, I like the .lit format, but my old Casio doesn't handle the NEW .lit, which limits me to what I can buy.
So in the area of the publishers releasing books in the new .lit, I don't know the work.
I will admit that sometimes I read ebooks and cringe at the writing. More often than I read NY published books and cringe at the writing (though that happens too). I have a couple of favorite ebook authors and that's it. And, if I try an ebook author and cringe at the writing, I don't buy him/her again.
OTOH, there are ebook authors who have made the jump into NY Times bestsellers, and deservedly so, Mary Janice Davidson and Angela Knight to be specific. I read them on ebook and I read them in print (though I still think Mary Janice handled a plot point much better in the ebook Undead and Unwed than in the print, and that was because our publisher limited that particular scene).
That's my take on ebooks.
May whatever format you read or write in please you today.