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I must admit to liking my 700, but having never owned a 500 I have nothing to compare it with.
For me it's great in the sun and as I love to read in bed it suits me to have it's light on. I then don't need the overhead light, which somehow used to catch in my eyes, very distracting.
The battery lasts about 3 nights, but I only read for about an hour at a time max.
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