I doubt that mine looks any different to yours
The reader is attached to the spine of the cover by a sort of hinge mechanism. When you open the cover, the reader sort of slides to the left. If you fold the cover all the way over, so the back left-hand leaf is now behind the player (and behind the right-hand leaf), the player itself sits on the cover with about a 3/4" thickness of cover sticking out on the right.
On the PRS500, the cover was fastened to the back of the read. When you fold the cover right back, the reader stays in the same place on the right leaf of the cover. The left leaf is completely out of the way.
As I said, it's not a biggie, it just feels odd in my hand compared to the old model.
If it's still not clear, I'll take a picture of the two units side-by-side (but I'm not sure how to put photos on these posts).