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I have the 505 and am very pleased with it. I think your idea of not spending too much is a good one, since the next generation of e-ink is forthcoming. Right now, the Sony 300 is on sale everywhere. I have seen it for as low as $139.99 with free shipping. You could buy it and use it for a while at home to see if the 5 inch screen is adequate for you. Just make sure you buy from a store or a reputable online merchant.
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