Sony 505 eReader review - part deux

So. The test drive of my Sony reader 505 is almost over. Do I want to keep it for my very own?

No. Yes. Maybe.

Pros:
Can carry a whole stack of books in one, slim package
Can stay up all night reading without getting up to go get another book (not that I should – I have to get my kids to school in the morning)
Can get classic, out-of-print, out-of-copyright books free from the Gutenberg Project, etc
There are offers and bargains out there for free or cheap eBooks – generally a few months old from Harlequin to a few years old from other publishers

Cons:
The reader itself is expensive
EBooks are usually full price. Why are they not cheaper than hard copies that have to be printed and shipped?
I can get new releases and older books from the library for free or from the used book store for $4
My library's ebook selection is pitiful and random and half are in an incompatible format.
If a book really stinks, I can't get $2 from the used book store for it or donate it to the library friends book sale for a small tax deduction
I can't share books with friends and family
How long before this technology is obsolete? Will I still be reading my e-Books in 20 or 30 years, as I am my paperback copy of Pride and Prejudice (that I got for 50 cents used) or my ancient Jane Eyre (hardback from my grandparents' bookshelf)?

To be honest, I haven't touched the eReader in a couple of weeks now. No, wait, I downloaded a book from the library and installed it about a week ago, but haven't turned it on since then.

Of course, if I knew for sure that I was keeping the Reader, I would probably buy more books. The ones I have bought are on my hard drive in .pdf format so I can read them again no matter what – until my computer crashes. I might also mess around with cracking the DRM on incompatible formats.

When will I get one?
When the price of the reader comes down – I don't know, to $50? $100?
When I have more selection – especially new releases – from the library, my primary source of reading materials
When I feel that I won't lose access to my eBooks because they decided to change the software and my keeper shelf will just zap away into the ether.


Now just wait a minute!
Screeeeech!

I sent this review in and the same day, SB Sarah said we can buy our eReaders for $125.

So I am back to square one. Keep it? Don’t keep it? What do you think?