Just saw it again, too
I have been waffling between the 505 and 700 for a while (until the Dell.ca one day deal on the 505 [$100 below Sony Style price] tipped me in favour of the older model). But I was leaning toward the 505 because I liked the screen better (less glare, less plastic between me and the text). I went to the Sony Style store to look at them together and I really liked the 505 much better, and I couldn't understand the many posts about how the screen on the 700 was really not bad, etc. In one forum, someone (Andybaby? Server?) suggested looking at the 700 on its own without comparing it to the 505. I admit that I mentally pooh-poohed the idea (I knows what i saw and I knows what I like!), but I was in the Sony store again yesterday, having not seen the 505 for a long time (and never for more than a couple of minutes), and they had the 700 on display. And you know what? The screen on the 700 is fine, and perfectly suitable for reading. So I am apologizing for my secret, mental dismissal of the many pro 700 posts!
It must be experienced in person, and judged on its own merits. Now I will stop thinking about these things, get back to work, and eagerly await the arrival of my 505 in the mail...