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This is typical corporate BS not upgrading the software on the 500. Its the plan to phase out the older models. There are very few companies that take the effort to update older models and Sony is not one of them.
According to what I read, both 500 & 505 have the same amount of memory. Also I thought I read the processor is the same. The 505 might be faster but that only means slower to process. So in theory it would be minor change get this to work with the 500. Its there Sony's choice to not do it if they don't.
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