The only difference is that the Kindle wakes up periodically when it's on standby while some computer operating systems have a real hibernation mode that saves all state information to disc and powers the system down. It's really just a technicality and nothing you need to worry about.
Unlike some other eBook readers, you can even pick it up after a week on standby and pick up right where you left without having to worry about the battery. There's really no need to turn your Kindle off manually and since it takes a while for it to cold boot, you'll probably want to avoid doing that anyway.
If you're concerned about battery life (like when you're traveling), it helps to turn off the wireless when you're not using it (especially with the 3G model).
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