I just got my first "hands on" look at the Sony 650 today. I would say go for it! I've got the 600 and I love it. The 650 is only that much cooler, thanks to the Pearl screen.
Assuming that you're in the US, you will have access to the US Sony store. There's plenty of moans about it (and the access software is a little bit cranky) but I've found an amazing number of books I wanted to get at reduced prices. You just have to wait out the initial release and just keep checking back at your wish list to jump when the price drops.
There's also Kobo, which has a different selection of books, and generally better prices than the Sony store - but not always!
Gutenberg has lots of their books available in ePub and all those are free. Same goes for Many Books. And don't forget about the large collection of epub titles here in the forum. Most libraries that lend out e-books have them in epub format.
The dictionary feature was an unexpected plus. It's really easy to use, but the one downside is that you don't seem to be able to add dictionaries (which I gather you can on the Kindles). I do make use of the dictionary on my Sony, but it would be really nice to be able to also have some language dico's (French-English and German-English). I think that's about my only "wished for" item with the Sony.
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