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Welcome, Keith.
Whoever syncs up will get whatever is there--both in terms of books AND bookmarks. The bookmarking is not a problem as long as you are not reading the same book at the same time.
Our solution to the bookmark issue is that my husband connects by sync, and I load all of my books as ePUBs, authorized through Adobe Digital Editions (ADE). I sideload using Calibre. Other folks use ADE to transfer the books onto their reader.
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