I just want to thank everyone who contributed to this forum regarding the 700 v. 505. Even though my 700 hadn't arrived, reading this forum raised enough concerns for me to hike to the Sony store for a side-by-side. The clarity difference, IMO, was
huge. As far as the lighting, I compared the lit 700 screen to a 505 with the light cover and the 505 was still superior. The touch screen on the 700 was wicked cool but the clarity was too much of an issue to ignore so today I canceled my 700 and ordered the 505 instead.
Again, Sony customer service was pretty awesome in light of my flip-flopping on this, but I'm feeling really good about this decision and I'll be rocking the 505 - at least until the 705 comes out.