textReader for iPhone OS2 has reached a final stage.

This application allows you to read large Text (.txt,.text), eReader/Peanut Press (.pdb), Rich Text Format (.rtf), Palm Doc (.pdb), Mobipocket (.pdb,.prc,.mobi), Plucker (.pdb), HTML (.htm,.html), CHM (.chm), and Fiction Book (.fb2) files quickly and efficiently on the iPhone/Touch. This application doesn’t have the fancy formatting of ruBooks or Books.app, but it supports many formats and can quickly load and display large text files that currently cause problems with some UI Text View/Web View based apps. It also gives you some options to reformat/reflow text so that it might be more readable on the iPhone’s smaller screen. If you want to load books quickly and read text, this may be the app for you.

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