Hurumph, and I just bought a lighted cover for my 505 last weekend.
Stangely enough, I can buy that "higher end 505" justification - I'm not seeing any compelling reason yet to run right out and buy the 700 they way I did when I upgraded from the 500 to the 505.
Of course if I could sell the 505 + Lighted book cover for $250, I'd probably go for it.