Howdy, Nashville!
Welcome to Mobilereads! I have a Sony 505, too, and really love reading on it. I use Calibre to convert my books to the Sony (although Calibre will not remove DRM for you).
Amazon currently only allows people who own a Kindle or iPhone/iTouch to buy ebooks from them. (And converting them, even if you own a Kindle or iPhone/iTouch, is a whole 'nuther can of worms. Just look through the posts from the last 24 hours or search on "Amazon" and "DRM" - you'll see lots of discussion on that topic!)
One thing you can look for, if you don't want to buy books directly from Sony, Books On Board is selling Adobe ePub (for some books only), and those can be read on the Sony 505/700s.
Again, welcome!
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