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i have the luxury to be able to choose between the prs-505, the cybook and the iliad.
i bought the sony first while travelling in the states. i didn't know such a thing existed! but i live in europe where sony is not available (yet) and access to the sony connect store is denied for europeans. i love my sony the best (altho' lacking the (iliad) possibility to make library folders). it's just beautiful designed. but that's a matter of taste and therefore very personal.
i was able to get the iliad through work. use the iliad mostly for pdf-documents, to read at home and to read my e-newspaper instead of the paper-edition. (miss the bookmarking possiblity).
the cybook is great for traveling. see all the arguments duodora has given.
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