I have the PRS-505 and love it. I saw the one at Costco after I purchased mine and I'm still happy I have the latest version over the PRS-500.
Truthfully, though, once I started carrying around the PRS-505 I kind of wish there was a way to put down notes and maybe write up a few things on the tablet. I started thinking that an Irex Iliad might have been a better choice for me, but then I heard it's a little larger than the Sony and if I'm going to carry something like that around I might as well get an Asus or Sony mini laptop computer. The Asus cost $399 so it's cheaper than the Irex.
After a while though, I think those mini-computers would have complicated things a little more and I basically just wanted a book to read without the weight associated with a 700 page hardback. I'm sure I would have wanted to play games and other non-reading type tasks if I had the other units and I doubt, wait, I KNOW I wouldn't use it for reading as much I am now using the Reader. So in the end I'm happy with the PRS-505.
Just to let you know, you can download books from this site and others for free and you're not locked down to the Sony website.
Last edited by nathantw; 11-09-2007 at 02:19 PM.