Okay the 505 is here.

I had to go pick it up from the Post Office. The box was big but very light. I actually had to shake it to make sure something was actually in it.

I'm sure people outside the Post Office thought I was dissin' Santa.
When I got home, I turned it on to make sure it was working (it was) then I turned it off and plugged into my computer for charging. The Reader Software opened immediately (so far so good Win7 64-bit), and Calibre, which was already open, asked if I wanted to convert my subscriptions and upload them to the 505... I said, sure why not. I also added the books from the 505 to Calibre.
Now I'll leave it alone while it's charging and play with it later.