Both are excellant scales. I have the 1010, get the 505. The "working" parts are the same, only the base and expanded scale range differs. I got the 1010 because of the extra capacity but have NEVER used it for any reloading work so the extra cost has given me nothing. You could add weight to the base of the 505 if you wished - modeling clay, play-dough, dry-wall joint plaster, etc.
My scale is actually labled "Lyman M-5", I bought it long before RCBS started selling the Ohaus made scales. It's as dead on sensitive and accurate today as when I opened the box in '65 and it's still going. No digital anything will last as long nor be any 'faster' to use if you place it on a shelf at nose level (as it should be) so it's easy to see.
IMHO, a digital adds nothing but quirkiness and cost. I worked as an electronic tech in the space program, the only thing digital on my bench is a clock and it was MUCH cheaper than a good powder scale. When the clocks go bad I toss 'em and get another. The digital scales are far too expensive to be that casual about them!