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I would think (and hope) that even though they are releasing new models, that the new models would be compatible with the same formats as the 505 and 700 were, thus being no reason for them to do away with those formats. AND this would allow people who have the 505 and/or 700 to keep books they've already bought and load them onto the new reader.
As far as the lightwedge.....I have one...the first month I had it, I thought it was the greatest thing in the world...NOW I have to say if I had to do it all over again, I probably wouldn't buy the lightwedge. It's do-able but the plastic takes away from the clearness of the 505 screen and it does NOT do well with fingerprints/specks of dust. I wish I would've researched more and gotten the mighty bright light. I still might get one of them. I've heard they're in the process of making their own lightwedge designed for the 505, so I'll use my lightwedge until that hits the stores.
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