I realize similar issues have been posted recently, but they seem to have been resolved by updates. I bought a TF700 a couple of weeks ago and just purchased today a SanDisk Ultra microSDHC 32GB card. The TF700 did not recognize the card. I had the same brief flash of "Preparing . . ." but the card icon does not show in the bottom right corner most of the time. A couple of times it does seem to read but I cannot read files on the card or write files to the card. The remove icon is non-responsive in those cases. I have inserted the card with the tablet off and then powered up and inserted it while on. Neither results in a readable card. I have reformatted the card as FAT32 and as NTFS and then inserted the card with power on and off. The tablet tells me that there are no updates available. I am using build IML74K.VS_epad-126.96.36.199-20120720. I should also mention that an old 2gb off-brand microSD card does work.