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You have to ask yourselves a couples of questions to decide.
Is the extra size of the 505 an issue for you? (to enter in a woman's purse etc?)
Are you planning to read PDF books (in that case go for the 505) or just novels & fictions?
The type of cover you prefer is important too.
The PRS-300 come with a sleeve for transport, and the 505 come with a book-like
cover (a similar cover for the 300 would cost you an extra $30). But I have found the 300 to be more agreeable to hold without a cover, due to the buttons placement, rubber-like back,and extra thickness (super slim device like the 505 are not so easy to hold, I prefer to hold my 505 in its cover).
I suggest you to try to hold the two devices and read a few minutes with each of them to decide which one fall more comfortably in your hand (They both come with some free novels & excerpt).
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