There are a lot of similarities in those two models. Both offer the ability to use either the 7.5 kHz or the 18.75 kHz coils. Both offer manual Ground Balance. Both have 3 channel Noise Cancel and both have adjustible Sensitivity. Both offer 4 options of audio tone. Like I said, there are a lot of similarities. But there are some differences as well. The X-50 offers 19 notch segments where as the 305 offers 12. In addition to being able to more accurately identify the target, the X-50 also has more "refined" settings for Sensitivity, GB and Volume, as well as one additional "Pattern". At this time, I see they are also priced within a couple bucks of each other.
With all that said, and even considering the "narrower notches" and more "refined" settings of the X-50, I'd chose the 305 for several reasons. One, it has an adjustible Threshold. Those who appreciate the importance of detecting with a threshold would be hard pressed to own a detector without it. Two, Minelab made some software enhancements to the new models, including the 305. The software not only allowed for the use of the higher frequency coils and the other "functions" I mentioned above, it also allows for a faster target response and (in my opinion) deeper detection. And three, it's the newest model.
If the decision was between the X-30 and the X-50, I'd take the X-50 due to it's manual GB. If it were between the 305 and 505, I'd take the 505 for it's ability to use the 3 kHz coils. But based on the two models you mentioned, the 305 and the X-50, I'd go with the 305 and never look back! JMHO HH Randy