I kinda covered that point, but yes it is both a graphic novel and a collected book of comics. I mean, the definition of graphic novel... yeah semantics are fun. But it's silly to say Elegy isn't a graphic novel. It is, it's just not an original graphic novel.
http://en.wikipedia.org/wiki/Graphic_novel
I know wiki, but yes any definition of graphic novel, people do call trades graphic novels.
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