I've been waiting for the release of the Sony PRS-700. At todays rate, it will cost about $695AUD (inc shipping) to buy from
www.bpphotovideo.com (a 505 would cost approx $515AUD).
It makes a Cybook from Dymocks more attractive ($599 + shipping) , although I just don't think I like the button placement...
Anyway, the decline of the $AUD is hurting my plans to purchase a new reader. (my 505 was stolen a few months ago).