This application allows you to read large Text (.txt,.text), Palm Doc (.pdb), Mobipocket (.pdb,.prc,.mobi), Plucker (.pdb), HTML (.htm,.html), and FB2 files quickly and efficiently on the iPhone. This application lacks many of the advanced features of ruBooks or Books.app, but it can quickly load and display large text files that currently cause Books.app or other UI Text View/Web View based apps problems.

Changes:

Allows you to specify multiple encodings to try when opening a file
Will show .jpg and .png cover art for files
Adds left, right, center, and justified text alignment
Improved formating of HTML files
Improves the display of files formatted for wider screens
Option to show/hide status bar while reading
Many minor bug fixes

http://code.google.com/p/iphonetextreader/