Just a bit more from the peanut gallery regarding only sleep vs sleep -> off.
From personal experience having my Kobo (Touch) in sleep only mode drains the battery much faster than sleep then power off. Currently I have mine set to sleep after 15mins then power off after 30 mins. I once had it set to sleep after 15mins power off after 60mins and even then I noticed a difference in battery drain. The books I read are all sideloaded epubs on an SD card. I can usually get about 3 weeks worth on a charge, reading about 2-4 hours a day with my current settings. If I remember correctly when I had it set to sleep only, I got about a week and a half out of the charge.
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