Conversion for the 505 has libprs500 and Book Designer available. Both can do some very good format conversions. I've used both to convert a number of files and they have come out quite nice. You can even purchase LIT format books and use lit2lrf to convert once you have stripped the DRM with ConvertLIT for a DRM free reading experience. But to be honest, most average books with no special formatting can be converted quite easily. One of the books I am reading now is one I converted from MS Reader format (I bought it legally) and used Book Designer to convert to LRF. I have taken a number of books from PG and converted them be it in text or HTML. Sometimes I do use Word to clean up the text first and maybe change the quotes and apostrophes. But overall, once you get the hang of converting, it's very easy.
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