Of course with plaintext editing systems, there must be a separate step to create the final output. A big advantage is that it takes no more work to create multiple formats: They all are automatically generated from your single plaintext source.
For example we can generate final documents from the source for this talk using the program sphinx-build....
Demo the whole edit process:
There are alternate systems for markup and transformation:
Note: Pandoc can also transform individual files between multiple formats, for instance translate restructured text, markdown, hmtl or latex to another one of these formats or into docx, epub, pdf, or various slide show formats like S5 or Slidy.