Like many Smashwords' authors, I signed up directly with PubIt! instead of letting the former distribute my book to them. The thinking is that authors can get that much more exposure if they go directly with this "major" player.
You will have to format your book for the epub market, which is different from what's needed for Smashwords and Kindle. And that's why I suggest everyone thinking about epublishing read J.A. Konrath's A Newbie's Guide to Self-Publishing. He's the guru, and his success as an indie author is indisputable. He's also confident to the point of being brash, so I'd just point out that the kinds of books he writes--genre thrillers, etc.--are more likely to be big sellers as ebooks, at least these days.
My first ebook, which my agent could not sell in these rocky economic times, is a gritty, realistic YA/crossover novel featuring a young Mexican American girl. It is not likely to take off and pay for my retirement, needless to say. But I'm very happy to have it out there in the world, rather than languishing in a digital file on my desktop. I still believe in it; why not publish it? But the marketing will be all up to me, now.
Did I mention its title? When I Am Singing to You (you knew that was coming!).I've priced it at $2.99 so it will move, and that seems to be about the price that successful indie authors suggest. Much less, and buyers will be suspicious of its quality. Much more and they won't spring for an unknown author.
The thing about PubIt! is they don't seem to respond to author queries. The CEO of Smashwords has twice answered my questions personally w/in 24 hours, which is impressive to say the least. And PubIt!'s royalty rate is slightly less than Kindle and Smashwords. I went looking for my book the other day on PubIt! and the only way I could locate it was by typing in its title. In other words, all the tags I gave them were for some reason not being used. So...not a huge fan of PubIt! (Especially that name, eugh.)
We've been listing our books there since April. Sales have been impressive and very quick.
Setting up our account was a PITA and one of the "customer support techs" was pretty rude that I nearly wrote a letter (may still do so because I kept all the details about the call), but other than that, things have been fine.
We haven't gotten our first check yet because they pay 60 days after the last day of the month so we'll be getting our first check for April sales at the end of June.