Will it drain the battery? Well it hasn't on my bike. Though:
(1) The device is not connected 24/7/365 and the bike lives on an Optimate when not in use.
(2) When the device is connected the bike is running, and the battery is being charged.
(3) When it is connected and the ignition off, the device signals that it is switching to its own internal batteries. I can only believe that it does. this would appear to indicate that it is receiving no power from the bike's battery. I have no easy way of knowing that that is not happening.
The 660 has some effect on the bike's electrical system, at least a bike fitted with HID lights, making the lights flash once after one minute. See thread in this section.
There are as many opinions on where is best to attach a GPS device as there are choices. In short you have three, maybe four choices:
(1) To the dedicated spur behind the headstovk.
(2) To the switched power source under the seat (or similar)
(3) Direct to the battery. This is unswitched (ie. permanently on) and may explain why some people are having problems with the battery flattening.
(4) Via a Centec or similar fuse box, wired to the battery. Again, this would be permanently live unless the owner put a switch or a relay into the circuit.
I think option (1) is best.