re: "... is there a way to "mark" a page or specific paragraph ..."
Yes. Can set/clear unlimited number of book marks. Can highlight a section. A list of bookmarks and highlights let you jump to any. There is a keyboard and you can enter annotations that save and key to the text. All are a tad clunky. Making notes is a lot like taking notes using your cell-phone. The UI for viewing and jumping to bookmarks or highlights is much harder than the "flags" mentioned. On the other hand, I can highlight a term and jump out to wikipedia to lookup more detail, or lookup a term in a dictionary that's built-in. I like this ability to drill down into a concept. For example, I'm reading a book about the Battle of Midway. Hmm, what's a Dauntless look like? Select the term, search wikipedia, you're there. Hmm, could also act as a level bomber as well as a torpedo bomber. Hmm, after Midway, the Navy got rid of them and replaced with the Avenger. Wait, need to get back to the book :-). Its a different experience.