I think the PB302 is definitely worth looking into. I have the Astak Mentor, which is the same hardware, and the screen is super clear, super sharp (seems better than my PRS-300 somehow). The Pocketbook firmware is awesome too. The main difference is that the body of the reader is plastic vs. the 505's metal body. I personally like this, as I like a lightweight reader, but some people think it feels 'cheap.'
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