Electronkz, could you please give details about your opinion?
I don't know the CHM insides, so maybe indeed it... is not a good file-format.
But in a way, I like the idea. Because I often compose documents in HTML format (referencing external css/js files), and often I find it a pain, when I want to distribute a document, to explain to people that the files should be kept together, with the directory structure respected. Same goes with pages I save to disk from internet: this creates something_files/ directories, that IMHO I shouldn't have to deal with.