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If you want to read PDFs, IMHO forget the T1, absolutely. When you reflow text PDFs on the T1, page turns are excruciatingly slow. The 950 has no such issue, so if reading text PDFs is important, I would recommend shelling out for a 950. Now even the 950 is not capable of miracles, and if the PDF in question has many diagrams it will not reflow well.
You can always buy Kindle books, strip the DRM, and convert to ePub; this is what I do, actually, to pretty good effect.
IMHO stay away from converting from PDF to mobi/ePub; the results vary widely. It's best to get a reader that natively supports PDF well, and the 950 is simply the best.
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