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Yeah, I agree with daffy4u. It seems like the only reason you're considering the K2 is because you think it might become the defacto reader and the 700 will start playing 8 track tapes. This isn't anything I'd worry about. There are a lot of great readers out there, and none of them are poised to take over anything right now. If you like the 700 get it!
The only thing I'd reccomend is not to run out and buy it tonight. There are rumors (and really, they probably are just rumors) of a newer, better, Sony reader being announced next month. There are also some interesting readers getting released this fall. It sounds like your faithfull 500 is still going strong, so all I'm saying is you may want to keep it until the end of summer to see what pops up then.
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