Dear Eriksdad,
I have the 507 MK II and assuming that the 505 has the geometry and adjustment features as the 507, I can tell you that this arm is very easy to set up and adjust. It has adjustments for vertical tracking force (VTF), azimuth, vertical tracking angle (VTA) and anti-skating. Unlike some other arms, these settings stay for a long time.
The Dynavector tonearm has seen various upgrades throughout the years, so I'm not sure how the older versions compare to the new one.
The arm looks complex because every setting has its own dial. These dials stick out from the main arm structure. This is what makes setting this arm a breeze.
This is a link to where you can download the instructions for the 505 and other Dynavector products.
http://www.dynavector.com/pdf/pdf.html
Regards,
iSanchez,