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I had the 505 for a year and now the 700 since day 1. IMHO, the 700 is worth the extra $100. It is much faster accessing books, changing pages, accessing my 2 gig sandisk, etc. It will easily handles my PDF documents - with the 505 I quit trying to read PDFs.
While the light is really not acceptable, it is much better than using my clip on light. I even turn the light on in the daylight sometimes. I also like the buttons and the ease of getting back to the menu. The larger fonts have also come in handy especially with PDFs. Overall, IMHO, quite an improvement, although I look forward to buying the new model next fall.
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