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I edit quite a few books and reload them with Calibre, there has been the occasional one that loses its current reading position as a result, but the vast majority retain the reading position after the edit.
I haven't ever seen a book be reprocessed after editing it, but some of the metadata is cached, so if I edit the database to change the title for example, the old title will still show for a while unless I turn the device off and back on. Same as with replacing covers.
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