Semantic. Presentation without semantics would be a waste of time for my project.
How did the content creator formulate the semantic markup, in using MS Word? That program does not have native support for semantic markup, and using presentation markup to represent semantic markup usually results in a botchup.
LaTeX could be an output type, on the way to generating nice pdf.
I'm suggesting to do the entire thing in TeX. That SGML can be converted to virtually any other markup language, with minimal, if any loss of either semantic or presentation markup.
The critical hinge is to get the source information in a form that is both easily editable by the non-techy authors (some sort of wiki maybe), yet rich enough in semantic information that it is possible to write tools for automatically generating modules in different formats.
Semantic and non-techie are mutually exclusive.
jonathon