Harry, I don't notice my Reader re-indexing a book when the SD card is removed unless it is actively on. I've been reading a book or two, turned off the device, removed SD-card, added more books to it, popped it back in, turned on device and the book I was reading is still loaded with no delay. I did notice when I first got it, that if I popped the card out while it was on, it would lose my bookmarks and reload the books.
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