I have a 505 and I find no problem at all holding it in one hand while I am reading.
I've seen the 300 and I do prefer the larger screen. I know it's only 1", but it does make a noticeable difference. So if you have a chance to get a 505, get one. Also, if you get a 505, you can use some of the hacks available for the 505 such as PRS+ and have true folder support and an onscreen clock among other things.
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