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Well, I'd opine that Low-Tech's sales were hurt by the PDF sales to forumites.
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But not Thaumatology or Vorkosigan Saga? They've released PDFs before the print before, and it hasn't bitten into sales like this.
Personally, I think we're seeing the GURPS community transitioning more and more into a PDF mode. A few years ago, I suspect many more of us were skeptical of this whole PDF thing, but since then, 90% of our GURPS goodness has been found in PDF, and we've either adapted or moved on. So, I suspect the PDFs are actually starting to dwarf the sales of print products not because the PDF came out first, but because we, as a community, are more accustomed to PDF than we used to be.
It'd be an interesting experiment to put out the printed book first and then see if the PDF still dwarfs its sales. And by "interesting" I mean "Please don't do that," because I want GURPS Horror ASAP.
(For what it's worth, I haven't picked up my Low-Tech PDF yet, but I already have a hard copy of the book)