My 505 is still going strong after almost 4 years. I've looked at all the 6 inch-screen Sony readers (and the Kindles) released since the 505, and none of them have offered enough improvement for me to consider upgrading. I would also miss having the page-turn buttons on the side.
I'll probably upgrade when/if there is a new generation of e-ink screens with a more paper-like appearance. (Pearl is still not contrasty enough, IMO.) In the meantime, I've changed my default font to a slightly bolder one.
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