Consider the diffs between the Sony 600 and the 505.
600 reads letter-sized PDFs by zooming; the 505 reflows. The zoom doesn't stay put from one page to the next. (Both, technically, read them without editing--which means cramming a letter-sized page onto a 6" screen. I can read it that way... if it's content I really love.)
I like the reflow on the 505, but that may be because I have no problems editing the PDFs themselves if the reflow doesn't work right--I can add tags, crop out the white borders, add bookmarks and so on. But those features aren't available with free/cheap software.
600 allows annotations, I believe; 505 does not.
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