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Originally Posted by Server
When used with proper reading angle (ie. 30° - 40°) And proper lighting,
you shouldn't have a problem. If you are reading in low light, you should
select level 2 brightness with the built in LED light switch. As a former
Optician, everything else is visual acuity (or lack thereof) related.
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Please explain how your reply changes the fact that the contrast on the 505 is better? Are you telling me just because I can read a 700, it should be OK for me? Sure! That's true. I can read the 505 better though. Due to the contrast. In the dark, I don't think there is much difference in the two.
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Once again, proper reading angle is a must for the luxury of
a touch screen!
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Thats great! Except I don't want a touchscreen to begin with. Also, I don't want to swap my better contrast for the touchscreen and "proper reading angle."

It was hard enough to stop using my VGA PDA with backlight to go to e-ink to begin with. If I'm going to do that, I want the most paper-like display I can get. I'm sure the 700 is fine for you, but I choose the 505.
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This is an understatement. The UI is hands down, the best I've seen!
Touch screens are the future, and it would not surprise me the least to see
the rest of the eInk gang doing likewise.
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There are a lot of innovations in screen technology on the horizon. I'm sure touchscreens will improve with e-ink in the future. Honestly, I'm more interested in the built-in light though. I read just about every night in bed before I sleep. If they made 6" ebook reading devices using an LCD screen that had a backlight, I likely still wouldn't have an e-ink device. 
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Best Features thus far:
- (Re)-Searching capabilities / FrontPage Iconed eBooks / Zoom! / Notes!
/ Music / 2 levels of LED Brightness / Photos / v-Keyboard! / Stylus or
Finger gesturing / Magnetic Leather Cover / Landscape / Portrait reading
/ etc etc...
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But hey, don't take my literal word for it, its just my objective
(hands-on) opinions...
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Sounds more like a Sony add.

Hey, at least I bought a Sony!