I don't think the difference between 4 and 8 grey scales is significant unless images are a major fraction of your reading.
It is as you say, hard to be definitive about the eSlick. It appears to be based on similar hardware to the Cybook, and certainly the screens of all these devices are identical (the Sony has a different controller but the same screen).
Given your reading pattern, I suggest buying based on price. The Sony currently has the advantage of better support for format shifting (to LRF or ePub) via Calibre, but soon Calibre will likely have good export to MOBI support too (for every EInk device except Sony and eSlick). For the eSlick there are plenty of tools for converting to PDF.
If you are buying in 2-3 months the landscape may have changed, but the PRS-505 is still likely to be a good choice. One option, particularly for DRM-free readers, will be OpenInkPot on various EInk hardware (including the PRS-505). This already looks promising on the Hanlin V3, which is currently a bit expensive but may come down in price.
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