My new Sony PRS-505 came this morning around 10:30am so I've had a few hours now to play with it.
Pros:
Easy to manage on the Mac with Calibre (thanks Kovid).
Came with a half charge, took only 2 hours to reach full charge.
Didn't need to read any of the instruction manual, it was all very straightforward and logical.
Text is crisp, readable and I've already managed to get through about 50 pages in a quick sitting.
Took only a few minutes to forget I was actually using an electronic e-book and settle into the story.
Provided cover feels nice to the touch and is solid.
Cons:
Some covers didn't show up from Feedbooks downloaded books, although they were there in Calibre library. I did a quick convert to epub, leaving everything unchanged, but ticking the keep cover source from file box. Covers now working fine on those few titles that were giving me troubles.
All in all I'm very excited and pleased to say that this reader is perfect for me. Worth every penny.