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Here is what it comes down to: Which features are most important to you. For me the crispness of the screen is more important, so I plan on getting a 505. Other people will find different features more important, and they will be better off with a 700 or even a Kindle, Cybook, or other competitor.
Once you know which features matter most to you, you can pick the right device. The 700 screen is better than any device that isn't E-Ink.
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