Hi,
I just saw this thread and although a little old, I might have some input.
I have been traditionally published previously and this year ventured down the eBook road. Without doubt, both have very strong cases on all manner of items from content control to distribution and marketing.
Similarly, readers often have their preference, be it an eBook or a print version.
I do think that an eBook is an effective way to test the waters. At a reasonable level of cost, the eBook can launch on the Amazon marketplace and various other distributors such as iTunes.From there, the title's success may provide a very good indicator whether publishing a print copy is a viable option. Furthermore, the eBook can provide a wonderful 'pitch' to a print publisher.
My first eBook, '50 Tales of Flight' went down this road. I launched it in February and it has consistently ranked very highly on Amazon in aviation titles, even spending time at number one in aviation. The upshot is that it has proved a success and I am sure that a print version is now in its future. In the meantime, I'll write and publish another eBook.
In summary, not everyone likes eBooks; that's their choice. However, devices such as the iPad has made eBooks far user-friendly. What they do permit the author to do is self-publish a title at a relatively low cost and thereby releasing the story from a solitary hard drive, even if only for family and friends.
I hope this helps.
Cheers
Owen