The New York Times: Stanza: “The iPhone or iPod Touch can act as an electronic book reader.”
Tip of the Week: Turn Your iPhone Into an e-Book

Help! Stanza Desktop isn't displaying my graphics/tables/bullet lists/etc.

That is by design. Stanza Desktop removes nearly all of the formatting of the text that it reads. This is in order to maximize the flexibility of the user interface, as well as maximize the number of formats we can support. As mentioned above, this makes Stanza Desktop unsuitable for content where graphics or formatting is an intrinsic part of the reading experience. Stanza iPhone / iPod Touch, on the other hand, supports images as long as the ePub / eReader document includes inline images.