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I can't help your paranoia, but a Kobo Mini, registered once with a fake email, then never connected to wifi again, would fill most of your needs. It's pretty obvious that the wifi is actually off, by the altered battery drain. If readers were really leaving the wifi active when placed in Airplane mode, I would have thought air safety authorities would have had something to say about it over the last few years.
I don't know of any mainstream e-ink readers with on-the-fly correction capabilities, sorry - they're readers, not editors.
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