AllFun, I had (and still have) a 505 + lightwedge, and a PRS 700.
I really liked the 505 + lightwedge, but as you stated above, the combo was heavy and it had a tendency to fly away from the screen when held at certain angles. That was my reasoning for getting the 700.
I LOVE my 700! The 505 + lightwedge gave a better, fuller light coverage than the 700, but I find that after the eyes adjust for a few moments the sidelighting of the 700 is very good for reading in subdued lighting and even in complete darkness. I also do not find the decreased contrast of the 700 or the "glare" issue to be a problem for me.
Also the 700 is so much lighter and compact than the 505 + lightwedge combo.
Your mileage may vary, but for me it has been a no-brainer. The 700 is a great solution for me.
For now...
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