At least the recognition of where you are in the book transfers, but digital books are so much harder to flip through that that gets in the way, for me anyway. It's not an issue if you know text you can search for (and the file allows that, of course) but if you only have a vague idea of what it is you're after, or can't remember any words that would be useful as search terms, a physical book is often a lot faster to find things in.