Not quite as strident as I seem.
Or put another way, I'm debating the benefits of Merrill-Lynch versus Prudential versus daytrading... I'm not even discussing options like investing your money (or eBook publishing) at less reputable places.
"We'll only charge 50% retail. It's a great deal, ayup!"
I personally know people who are doing just fine using Smashwords. Marian Allen told me that she's doing well by them, and has never had a problem getting in the premium catalog. I believe her.
That's not been my experience, mind you. There's always something that's kept my stuff from meeting "Premium" standards (and I've got my doubts about that label, but that's not my point). But that Marian and I have such different experiences is exactly my point. Marian has found a system that works for her professionally, has considered the good and bad of it, and made an informed choice. (By the way, go read her blog, and check out the free fiction she's got up. Good stuff.)
Do not accept me as the end-all-be-all of all things DIY. I learned a lot about POD publishing that I simply wasn't aware of last night. I realized that I've completely neglected Overdrive for digital publishing (which serves libraries). ::headdesk::
Again, remember that digital publishing is like an investment. You must be an informed consumer, but the choices that are right for me won't necessarily be right for you.
But money must always flow toward the author. Always.