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For the 500/505 you can get a PSP AC adapter and it will work fine as the 500/505 have the same power requirements as the PSP. So you can get a cheaper AC adapter then the one Sony is selling.
As for proprietary formats, any format with DRM is a proprietary format be it BBeB, MS Reader, eReader, Mobipocket, Adobe PDF, AZW, and any others I may have missed.
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