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I've had a 505 for about 3 months and just got a Kindle yesterday. I like the Kindle much more so far. It's much nicer in person than it looks in pictures. I think the accidental paging people often complain about is not really an issue once you realize where the page buttons are located. You get used to them pretty quickly and the device, I find, is much easier to use than my Sony 505. The dictionary is quick and easy to use. The wireless access to the Amazon store is great and being able to download free samples of content is a nice feature.
After spending a night reading and using my Kindle, I picked up my 505 this morning and it felt archaic compared to the Kindle. Also, things seem to load faster on the Kindle than they do on the 505. The interface is just snappier.
I really recommend you consider the Kindle, I'm very impressed with it so far.
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