My experiences:
PRS 505 - loads fine average (5-15 seconds for epub), my wife's Kobo Wireless is much newer and also much slower. Hers loads an epub in 10-20 seconds, for similar-sized ebook. The biggest epubs I have (around 1mb) will load in a slightly longer time, only to be expected.
For further comparison - I have around 400 books, she has around 30 (she is an avid re-reader rather than devouring the latest novels).
PDF files are marginally slower.
HTH.
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