I'm not sure either device would be right for you, you said small 2 column pdf's would be primary use.
I wouldn't get the 505 for that. I converted my pdf's to epub's or sony format with good results.
Hopefully other people can offer their 2 cents of info too.
I guess it could work for you but unless you are flexible and willing to convert your pdf's , which is a simple process if it's not a scanned book, it would be hit or miss.
With the 505 on the way out , keep your eyes and ears open, maybe you can get one on clearance at a good price, maybe not?
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