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I have some slight experience with it. I've only used it to write some fairly brief short stories, so I haven't had any in depth experience with its features.
I can say that the little I have used of it was enjoyable, and once the trial period runs out I am considering purchasing it.
Hope that helps at least a little with your questions.
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Hey skadder, yWriter is a free writing software that you might want to look into. I've pasted the link below. If you want to try it, follow the link, then scroll down to the bottom of the page and download yWriter5.
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I tried ywriter but it didn't quite work for me. Scrivener has been written about and reviewed in the New York Times (very favourably) and so I was wondering if it was significantly better.
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I'd like to know this as well. I've heard great things, but I've yet to try it out for myself. Probably due to not yet having a Mac to write with.
If I get it within a week, I'll let you know what I think of it.
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Have downloaded a trial version of Scrivener and played around with it, and I have to say it is the best writing project management tool I have come across.
One of the best features (IMO) is when you have outlined, drafted and edited your work you can export it and create a file of your choosing (doc, rtf) to the specification of whatever the publication is. So if the want underlines instead of italics, then you just click a button. The default export format is standard manuscript (12 point courier, etc,).