I have both the Kindle2 and the PRS 505. Reading is one of my favorite activities; I read a lot of books and documents. I use both ereaders constantly.
If I had to limit myself to one, it would be the Kindle2 without hesitation. I find the user interface much more intuitive and elegant. (I think the Sony Interface is ugly and overly complex). I like the dictionary. I prefer the way that it adjusts font sizes. Pdf conversion is OK using mobi software. Having 24/7 access to the Amazon store is fun, and prices are reasonable. In addition to the Amazon store I use the Mobi software to convert many books and documents and upload them via my computer.
The Sony screen is slightly more readable, and I like the smaller form factor. I appreciate that it has a native pdf capability but often find that the documents are so small I have to convert them anyway. I never use the Sony store. The Sony works seamlessly with my public library for book downloads.
For the wireless and cleaner interface I prefer the Kindle2, but they are both good readers. I'm looking forward to the DX though because I use my ebook readers in lieu of printing a lot of documents, and I'd really like a reasonably sized screen to view native pdf documents.
One thing I like about having two readers is that sometimes I get tired of looking at exactly the same screen. By switching readers I get the feeling of picking up a "different" book. Also, sometimes when I convert from other formats such as pdf or rtf, the readability of the document is better on one reader or the other. The Mobi conversions of rtf documents, for example, seem to space the paragraphs better than the lrf (sony) conversions via Calibre.
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