The Legacy electronic version would be in PDF format. It would be the printed pages exactly as they look in printed form, except they would be on your screen. You could print out pages that would look just like the mailed version. They just would not be printed on slick paper and in book form.

If you think about it, this is an effort by HL to not only get you your Legacy earlier, but it would be a significant cost savings. Perhaps looking for ways to keep the cost of membership down? Would you be more interested if they offered a discount on membership for an electonic Legacy instead of a printed one?