In addition to the above:
1) Calibre tries to store metadata in the book when you send it, unless you have turned that feature off. Not all formats store metadata. EPUB does.
2) Sony devices maintain a 'catalog' of metadata for books. This catalog has some serious flaws. For example, at least on my PRS-300, author names get cut back to the first author, and the only tags that are kept are those that make up collections. The device will show you what is in its metadata catalog, not what is in the book. When you connect the device to Calibre, you see what the device left in its catalog.
The next beta release will maintain a correct metadata catalog (more correctly, a cache) for all devices, including Sonys. Calibre will use this cache when you connect the device, so you should see correct information. Of course, the first time you connect the device to the new version it won't have that information, but calibre tries hard to find it from the books and from the main library.
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