Turns out I was worried over nothing. The T1 got here yesterday, and I put some books on as an initial test. I didn't set up the plugboards or do anything else except specify a couple collections columns in the device interface plugin.
It displays LN, FN and sorts on LN. And that's fine by me because that's exactly what I'm used to seeing in calibre.
I was all excited to have the currently-reading-cover as screensaver, but naturally the book I'm currently reading on it is a library book without a cover in the file so I'm looking at a very boring title page.
Loving it so far! Especially loved that I didn't have to install the Sony Reader software for anything. I thought that might be the case but I wasn't sure so I was relieved. I hate the Sony software more than I can describe. The firmware update went fine. Reader Store, Adobe device authorization and Library setup went fine.
This device has an out-of-the-box experience on par with the Kindle, in my opinion. I'm impressed by that.