Thanks for the great review NatCh!
I've had a 505 for about eight months now and am still in love with it. My husband recently got a 700. Your review covered the differences quite nicely.
To be honest, if I had to get another reader now, I don't know which one I'd get. I really do like the clarity of the 505, but the other features available on the 700 make it very attractive as well.
dordale