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I buy as much books as I can in the LIT format simply because I want to be assured I can read my books in the future too when Microsoft or some other company stops support. In fact, Microsoft -has- stopped support for their Reader program.
Conversion as such should not be a real problem; I will be doing it most of the time anyway. I have seen both libprs500 and obviously Mobipocket Creator. Both do not seem very hard to use to be honest.
But the warranty you mention is a good point: that would be annoying. On the other hand, and I would have to do some math, the prs505 might actually be cheaper and if its specifications are the same along with the reading experience...
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