My battery lasts 1500 page turns. On my last charge I added them up. So... 1500 page turns plus I turned it off and on twice. The red light disappeared for a couple charges, but on the last charge the red light came back. I have not rebooted. The red light also comes on very quickly, before it's fully charged. Other than the battery issues, I'm really happy with my Kobo.
Oh, and my Kobo is black.