I have only used a 505, and I find it to be very easy on the eyes, and not really any different than a regular book, for the most part. I read for hours at a time with no issues.
From my understanding, a 505 is easier on the eyes, but that's going off what I've read here in the forum (having never played with a 700). I think grooks is exactly right-- people who have difficulty with the clarity/ease of reading of the 700 tend to be comparing it to an e-ink device.
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