Joanna Penn writes about why she has turned around from her declaration a year ago to focus on ebooks. She's put up a nice video too, if you prefer to hear it directly from the author. There's a whole list of reasons in the article, but I like:
When I started with print, when I just had one book out, I ended up selling 95% ebooks and very few print anyway. I didn’t have a big enough audience and it didn’t justify the design costs back then. BUT/ now I have 3 ebooks and the print design is paid for by the ebook sales.
That makes perfect sense. I like to think of print as a premium product, a thing to hold and display, so with that mindset it makes perfect sense to lead with the lower cost product until there is a more positive cash flow.
Personally, this applies too:
Book groups, fans, family and friends all want a print copy (plus my ego likes it!)
You can't really have a virtual brag shelf, right?
Check it out here: http://www.thecreativepenn.com/2013/01/27/why-print/