@ SD -
That's exactly what I do with mine. I find it to be an excellent investment. My 505 has been beaten up and is the perfect travel companion right now...
Although, this week I am taking a class and found my 700 to be a good companion to my Vaio P during downtime.
So - PRS-505 for every day travel and work
PRS-700 for in house and other "safe" readings.
I guess the reason for my paranoia is I bought both readers when they had their big buck prices. Plus, the 700 is faster for when I am at home. The 505 and its noticable lag is perfect for work when I have all the time in the world