hpink - I've never seen the PRS-700, so I can't compare the 505 to the 700. However, I find reading on the 505 to be very easy on the eyes, even for an extended period of time. I find an LCD screen hard to focus on after a while, but I've never had any problem with the e-ink screen on the 505. I've already read more books in the first 3+ months of this year than I read all of last year, and I attribute that to being able to read for longer periods of time.
I can't say I've read for 3 hours straight as I don't pay much attention to when I start and stop (or what interruptions may occur), but I have found the 505 to be very easy on the eyes for extended reading sessions.
Good luck on your decision!
SteveK
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