The PDF reader in the iOS application dropbox kinda sucks. It doesn't remember last page allow for any notes or all of the interesting features of the kindle app.
I wanted to translate a physical book that I had scanned and converted to PDF into the epub format. I downloaded some application that when it performed the conversion on the PDF all of the odd pages were upside down. This was particularly troubling. I found the following worked:
1) Open the PDF in my dropbox application to begin viewing the file
2) There is a export button in the PDF viewer in the top right of the reader
3) Ensure that there is iBooks available on your iOS based device
4) select export to iBooks and the PDF will be converted to epub thus allowing iBooks to open the document.
It was a HUGE boon.
Dropbox is free for 2GB of storage space and iBooks is also free from the appstore. All of the formatting was there and I didn't have to pay 30 dollars for a epub converter