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Can't really compare the two. The Aura HD has a larger, higher-def screen than the PW2.
Better to compare the PW2 to the 6" (non hi-def) Aura. I've played with both and the Aura is nicer IMO. Flat-screen super-swish design. Once again, Kobo maintains their market toe-hold by staying one step ahead of Amazon. But they're both nice.
I don't like the inability to reduce the margin on the PW2. I like to use the whole screen. I'm not sure if the Kobo gives better margin options, but they are known for having more custom options.
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