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The 505 has been superseded by the 600. It's still available in odd places (my local M&S has some - or did last week).
If you can't find a 505, your easiest choices for offline buying is the Sony 600. The Sony 300 doesn't have a card slot. None have replaceable batteries. In normal use, you can expect a week or more from them between charges.
E-ink screens (which pretty much all e-readers have) have 2 major benefits: easy to read in very bright light and, crucially, very long battery life compared to LCD. Typical e-reader battery life in reasonable (1-3 hours per day) is between one and two weeks. Typical laptop/netbook life is between one and two days (there are odd exceptions). E-ink screens, like paper, need light, so you can't read them in the dark (hence the discussion here about reading lights).
If I have to recommend, I say go for the Sony 600. It's easily available offline, supports many different formats, allows you to get ebooks from libraries, has a card slot, is very well made and easy to use. Depending where you are in Europe, you might find the Bebook and various equivalents offline. Also a good choice. I pick the Sony because it's easy to find in most countries
There will be many developments in the next year
BTW, none of the standard readers seems to support password security - I think a major flaw.
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