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I'm not sure what type of books you like to read, but without DRM, you would be really limiting your selection. Especially, if you plan to get books from the library, as you mentioned, you'd have to have a reader that can read DRM'ed books. The Jetbook doesn't support DRM'ed books so that probably wouldn't be a good choice for you.
I am also a Sony 505 user and I've had mine less than 2 months but I LOVE it. I haven't had any problems and it's been really easy to transfer books (from many different sources) on to it. My favorite thing about it is that I can download books from the library for FRE...I am currently "collecting" library cards to expand my collection. I will also say that when I was researching ebook readers, I only looked at the Kindle and the 505 (because a friend has one). I didn't even consider any of the other readers out there. I actually assumed that you could load any book onto any reader and I had no clue about DRM. Knowing what I know now, I still would've picked the 505. I have also been researching the Cool-er Ebook reader, and was really impressed with the information I found about that.
Oh, and as others have said, most libraries have pdf format ebooks, but I've found 1 library so far in my area that just got an epub collection.
Good luck in your decision and let us know what you decide.
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