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As for me, I bought the 505 for what it could do for me today. I have no long term confidence in Sony nor in these particular formats. My assumption is that we are in the Wordstar phase of ebook readers. Trying to guess the final configuration of the market and what Readers and standards will emerge is like trying to guess the outcome of the word processor market in early 1982. At some point if this market is to solidify, it will be possible to buy lots of ebooks cheaply and conveniently, and things like color and diagrams will be easily handled. But that will come a bit further down the road and publishers also must realize it's better to sell lots of books at $5 or a few at $25. Or someone will force them to.
Of course if really good laptop screens emerge (good for reading novels) and battery life stretches to days, then the standalone Reader might die but the ebook market will only grow and evolve whether the leading publishers like it or not. They couldn't stop MP3s and they won't stop digital books from eating their core business.
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