I use the light only at night, but something else in that thing sucks battery power when it is sleeping. I'm sure the touchscreen uses power when the machine is on, which is something the 500/505 doesn't have to worry about. I still like the 505 because it really is easier to read, but I wanted the 700 for annotation (I have over 300 annotations right now).
I wouldn't blame Calibre at all for this problem--if anything, I've found that the Sony software has a difficult time keeping the categories intact. At least you have backups of all of your books in Calibre so hopefully all you lost were your bookmarks! Again, you may want to do like I do and keep a copy of your books on another SD card in your camera so that you won't get stuck with a brick while on vacation.
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