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One thing to remember about the built-in lighting is that is negates one of the major advantages of eInk devices; their extremely low power consumption and hence very good battery life of the device. Use the PRS-700 without the light, and you'll probably read for a fortnight without having to recharge. Use the light and it drains the battery flat in 4 hours.
As far as the CyBook is concerned - I have one, and it has pros and cons, like every device. Its "pros" are its excellent font handling (you can load any TrueType or OpenType font you wish onto the machine, and read any book in any font in any of 12 different sizes) and its excellent support for the MobiPocket format. It is the only 6" device currently available which support Mobi dictionary lookup, which personally I find to be an indispensible feature. Its support for other formats is poor, but that doesn't concern me, since I've "standardised" on Mobi as my preferred format.
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