I've had palms and presently have a Sony Clie s360.
The Black white screen on the Sony surpass the palm in definition. There is 16 meg ram and 4 meg rom. You can add memory card if that becomes a need. I have a 128 meg card that has all sorts of books and there's not much of a dent in the capacity. The processor speed is fast.
I've seen the Sony color and they are very impressive but I don't need color at the sacrifice of space (ram). I use excel spreadsheets with DocsToGo.
I bought mine refurbished 8 months ago thru ebay for $100.
I find that I need a cover due to the ways I carry mine. I should have used a screen protector sheet.
Palm OS is the only way to go for this price.
Tom