A friend of mine has the Kindle 2 and while I haven't spent much time with it, I'd definitely rate the PRS-505 build quality higher. It feels more solid imho. I haven't compared screen quality, but from what I have read while researching things, the kindle is a little darker shade of grey while the quality is more or less the same. All in all, the PRS-505 screen quality might be a little better (this is what I gleaned from reading a bunch of reviews, especially ones here on MR).
Also, it is easy to embed fonts, etc in the PRS-505 and when making your own EPUBs. All in all, the Kindle is far more "closed" than any other reader which makes it unappealing to me. It might very well work for you. Keep in mind though, once you go to a Kindle, you are committed and restricted to
1) Amazon for all your ebook needs. You can't buy ebooks from anywhere else and hope to reliably read it on your Kindle
2) Your books will never work with any other ebook device. So if you ever choose to move from the Kindle to some other non Amazon device, it can cause you a lot of pain.
If you are OK with that and the better selection at Amazon is more important, then you should go ahead and get a Kindle. While Sony is far from the ideal company when it comes to "open" formats (look at their history of PSP UMDs, Memory Stick Pro Duos, etc) they are surprisingly much better than Amazon in that respect with the EPUB support they have introduced as well as announcements regarding the ultimate shift from their proprietary ebook format to Epub.
Last edited by orion2001; 10-07-2009 at 06:36 PM.