Frequent Flyer's companion
I bought an PRS-505 on a trip stateside last year, and I've got to say, *if* you (a) read a lot and (b) travel a lot, it's a major boon. (Note that it's going to be rather less useful if the sort of stuff you read requires you to make notes in the margins; this is a basic e-reader, really aimed at the casual consumer of popular literature.)
Last month I ended up on a journey from hell (I arrived at my destination 36 hours late, via three cancelled intermediate flights and a brisk jog around Dallas-Fort Worth); the Reader kept me entertained, and after ploughing through three novels it was still showing three bars out of four on the battery indicator.
Sony's software support for non-Microsoft folks is, as usual, dire, but Mac and Linux users may want to investigate Calibre (http://calibre.kovidgoyal.net/), the open source Reader management application.