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I would buy a 505 again, just because I hate the way light reflects on the 700 when you read with strong external light sources, and the contrast does make a difference using certain fonts. I also don't like the mathematics:
PRS700 = $399.99 + S&H
PRS505 = $269.99 (from Vanns.com, no S&H)
Kingston 2Gb SD Card = $6.25 (from Amazon, you can use it with some other devices, so it's better than internal memory in terms of usage).
Mighty Bright XtraFlex2 Clip-On Light = $12.96 (from Amazon, you can use it with pBooks, doesn't drain your Readers battery, it's great when you are looking for those damn keys)
Total: $289.2 (+ batteries for the lamp, and maybe a pen and a notebook for your annotations)
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