With a new Gen3 with 512meg, I can see no advantage to storing on an SD care vs. internal memory.
And to run an SD card, it does take power to do so. So, yes using a SD card with a Gen3 will decreased the battery life between charges. How much, I cannot say. But given that the newest firmware has less battery life then 583, I'd not want to lose any more with an SD card that you don't actually need.
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