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The OS is a bit dated on that especially since Windows Mobile 6.5 came out. It's unfortunate for PDA/PPC owners but that tech diminishes faster than that of readers it seems. While there have been 3 and soon 4 releases following the 505 it still holds strong in value since none of the other Sony Readers are quite the same:
PRS-700: Is great but there are many complaints that it's sharpness and contrast doesn't match the 505.
PRS-600: Is an improvement on the 700's flaws but I still hear about some of the same issues.
PRS-300: A great little device with sharp picture and contrast but it's an inch smaller and loses some features like music playback etc. Plus it must be a pain reading PDFs on it (if it supports PDFs?).
The 505 has the file support of the 700&600 with the sharpness and contrast of the 300 making still a vital item in Sony's line. Now that it's discontinued there is more interest in it. Of course if the glare and contrast issue is corrected in the 900 then there really won't be anything beating it since it'll also have 3G. Of course that's arguable.
I think your best bet would be to offer some cash in addition to your PPC. I paid out the nose for my iPaq back in '02 and couldn't get anything for it in '04 because it was released just before Bluetooth support:-P. A lot of the best PDAs are phones now anyway.
If you get a good deal, though, congrats!
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