I have both and use both. The 350 lives in my purse. I use the Nook for reading at home.
The 350 is a terrific reader, light, compact, with very clear text. But I still read on the Nook because of the font sizing issue on the 350. I can get more text on a page and better adjust the font to my requirements. I admit I also have a lot of B&N content and haven't looked at the options in regard to that yet. Also, the B&N ebookstore is the second-best out there.
The two libraries on the Nook don't bother me, nor do I have issues with the touchscreen. The swipe works quickly with a light touch and the navigation is easy. I like being able to keep much of my B&N content on the cloud. WiFi is handy. I agree with Ditchley that the original Nook is underrated.
I don't like how the 350 doesn't remember my preference for listing books inside folders, nor how it lists authors by first name! And a handy feature of the Nook listing is that a book that's not in a folder shows up as unshelved. I'm always afraid I'll overlook tagging a book on the Sony and never realize it's languishing in my book list, since I only check the collections.
I don't know why you have to switch; it doesn't seem like an either/or proposition to me. Have both. If you can find one of those $99 350s, go for it. (I caved at $129).
Neither device is perfect....
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