My .02 cents (CDN) worth, try uBook from gowerpoint.com. I find it more flexible, it opens from zipped files, and it handles a wider range of document formats. And yes, the newest versions now require registration, but the older versions are free.
Choking on the stench of ambition in Washington DC
Status:
On Philips 500 screen, I would stick to haiku more than Grisham. I have a Velo 1, the 500's predecessor, and those old monochrome screens don't lend themselves to lengthy reads.
uBook is fantastic, especially as a document reader, but if I'm not mistaken, I don't think there's a CE 2.0 version.