Laurie - Well, yes, it's a good start, but you could do better. There are several applications that can help build ebook covers, plus some tutorials regarding building them with PhotoShop.
Check out this FREE software from the twocows owner:
http://www.boxshotmaker.com
Even if you're using msPaint for your book cover text, it will be an improvement.
It works well, and has excellent quality, but provides only a few viewing angles.
You might want to also check out the mostly free tools and scripts at:
http://www.copperfieldpub.com//main.htm?toolsessential_tools
I plan on adding more soon.
best -
(Edited by Alaska at 1:31 am on Jan. 12, 2003)