After a year with my 700 I have decided to add the 505 to my arsenal of readers. I started with the 500 and then passed up the 505, finally upgrading last November to the 700. While I have enjoyed many of the features of the 700, not least of which is the increased internal memory and the faster processor speed, I am tired of having to recharge it every 4 or 5 days and I am growing tired of the contrast issue, reading through the touch-screen.
After having seen the new offerings, I am convinced that Sony, and indeed the entire ebook reader market (from all the offerings I've seen), is going backwards, and that the 505 may well be the high-point. So I went to all the area Targets and I'm not fortunate to live in an area where they have any of the 505 and/or covers at any price, let alone the wonderful prices many have listed here.
So I bought a brand new 505 on e-bay and am waiting for it to arrive. I also bought the lit cover, and that arrived yesterday and I can't say how thrilled I am with the illumination and coverage and I can't wait for the 505 to arrive so I can get back to reading without eye strain.
It's too bad that Sony couldn't simply have brought out a 510 with the processor and memory of the 700 but without the touch-screen, which I am convinced is a huge battery drain. And the internal lights of the 700 is a big drain as well, and since I read for between .5 and 1 hours every night in bed, I read with the light a lot.
Oh well -- at least I'll have a 505 soon!