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Yeah, I've watched the release of new generations without too much excitement.. the 600, the 650, etc. I finally was ready to upgrade this year, but again, the perfect device hasn't been released. I may still get the T1. (If the 650 had wi-fi, I might be interested in buying one even now.. I love how sturdy my 505 is, but wi-fi is pretty much a must for me now. the biggest annoyance of my 505 is having to hook it up to get books. A small annoyance, but an annoyance nonetheless).
As for screen, I know my 505 doesn't have a Pearl screen, but in practice it doesn't bother me. and not because I haven't seen a pearl screen.. I've held Kindle 3s in my hand, and I think Caecilia performs very well as an e-ink reader font, but my Sony is still so readable (as long as there is light). Maybe I'll wait and save up for an ipad or something for pdfs. Readers are getting so cheap now, though, that it's tempting to upgrade even though I don't "need" the upgrade.
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