Good choice, E-Cafe. I didn't want to weigh in much on the comparison, as I've never seen a T1. But I'm another one who bought a backup 350. Why? Besides the fact that I just love its small size compared to my 6-inchers, it's the only Pearl 5" device ever made. And there seems to be no indication anywhere of anyone planning to make another equally-small e-Ink device (until maybe we have folding devices).
Don't waste much time trying to find a 350 lighted cover--they've seemed to have disappeared completely from sale. And beware of 300 lighted covers that are advertised as 350 lighted covers.
My favorite case is a simple TPU skin like
this, but that's a personal preference. It's the least bulky and slides easily into your pocket.