Some passages from the PR.
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Five pre-set text sizes are available so readers can find the one most comfortable for them and for those who need an even closer look, zooming in is as easy as tapping the screen.
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Expanded memory offers enough capacity to store about 350 average digital books.
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For PRS-505 it was "160 books" so I guess they roughly doubled the flash memory size.
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Like its close relative the PRS-505model, the new 700 model uses minimal power and can sustain up to 7,500 pages of continuous reading on a single battery charge.
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I guess that's without the light, but probably including the touch screen. So I think they either used a more efficient CPU or a bigger battery.
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And, at about 10 ounces, it’s the perfect way to carry all of your favorite books with you wherever you go.
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IIRC 505's weight is stated to be "9 ounces". So it's a bit heavier but not by much.