Yes, "no scan" is there.
It's a bit more powerful / confusing than 505 version at the same time.
Unlike with 1.1.3 on 505s, it is possible to open books directly from SD card even with disabled scanning. (505 had to copy them to internal memory)
Now the confusing part is, that when scanning is disabled, loading cache xml file is not. (if I would disable this part, book opened from SD card would become invisible to the system after reboot or connecting to PC) So scanning folders for books part is skipped, but creating index that references books/images/etc is not.
If you don't have cache xml file (say you've deleted Sony Reader folder on your card) and scanning is disabled, then loading SD (the same applies to MS) card stuff will be instant. Cache file will be created if you actually open books from SD card, but it will only contain references to files, that you've opened.
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