I do think the 505 is "still the best" in that it's a very solid 6" reader that you can get for around $200 used online. ePub support, while a flaw that Sony ought to correct with firmware updates, is not a dealbreaker for me because I just convert to lrf with Calibre.
And when it comes to screen contrast, it's not debatable--the 505 is still the best or equal to anything else.
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