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As discussed here, it depends on the client. Some get so caught up in the content (change this headline! I don't like this photo! We don't do charts that way!) that they can't see the design they're supposed to be giving feedback about. Others want real examples so they can judge the layout more accurately. In addition to Lorem Ipsum, I often put placeholder content in magenta, because nobody colors anything magenta, and it's very easy to say to the client "anything in pink is dummy copy." Then you can use real copy, but they'll ignore it as they should.