I am a Canadian and I never deal with exchange rate issues because the only items I buy with my own money are things which are offered at 100% Micropay rebate. I the use the rebate money to buy other things I want.
I have a 505 as well, and I buy multiformat titles (you can download them in epub or LRF) and secure eReader. Secure eReader will need a certain amount of fiddling in order to work though. You'll need to use a script to 'liberate' the file, then clean up the resulting HTML and convert in Calibre into epub or LRF.
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