From the press release:
CompletelyNovel.com has expanded the printing options available to the writers and publishers within its online community. Working with Lightning Source, CompletelyNovel customers can now select from a number of options to print their books in the UK and United States. Instead of having to create separate accounts with printing companies, writers and publishers can now get easy, free and instant access to multiple print-on-demand options through CompletelyNovel.com.
CompletelyNovel users can upload their manuscript as a Word Document or PDF and design their cover online. Without requiring any specialist software or technical skills, print copies of their books can be immediately made available to customers. Up until now, all these books were printed by Antony Rowe, the print-on-demand arm of CPI UK.
They also have a number of titles available as ebooks, though it doesn't appear to be a popular option.
I followed up on the lack of ebooks, and I was told that they plan to launch a new ebookstore platform in January. It's not just their ebookstore; nstead it will let people run ebookstores on their own websites. It's mainly going to be browser based, but they are also going to support Epub and PDF downloads.
No word on DRM yet, but they did mention that there will be multiple payment options.