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the refresh rate isn't even noticeable on an Eink screen. it takes the same amount of time for you eyes to go from the bottom of the page to the top, and for your mind to process the last few words on the last page after you turn it. I wouldn't worry about it.
the Jetbook is a Nice Device, and I would buy it. its small. it works, its got more functions that the 505.
personally though, I got a used 505 instead of a jetbook for my girlfriend for 200 bucks. mainly because I know how to make a damn fine looking LRF file.
a whole slew of 5" readers are coming Imminent, I would say 3-6 months, so you might just want to hold off for the new Einks
If you Like the Itouch though, and your comfortable reading on it. stick with it. If you begin to wish for a device easier on the eyes, make the switch then.
reading on an backlit screen gave me blurry vision for a whole day after reading only 15 minutes, after about 6 months of reading on a netbook. that's why I made the jump to eink (500-kindle1-700)
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