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I have 2 Paperwhite 3's and a Paperwhite 4 and if I put them side by side I can see a little of what you're talking about but the reading experience is identical with them. When reading they're all perfect.
As for bold, I read with Bookerly and one level of bolding. The Paperwhites with current firmware provide bolding control on books bought from Amazon and on side-loaded books if they're converted to mobi with "Both" selected on the mobi output. I forget just what both refers to but it does work.
Barry
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