Welcome to MobileRead, bachus26!
I have had my 700 since Christmas and love it. I am sure you will easily get 16 hours of reading out of a battery charge. I read a lot and only really need to recharge about once a week and I do leave the memory stick in frequently. I usually convert books to the lrf format using Calibre and load the books onto my reader from Ebook Library (after uploading them from Calibre) but I know you can load them on your reader from Calibre, too. Good Luck and Happy Reading.
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