Design/ergonomics : iPad is the cutest, but KDXG is nice too.
Screen quality : go for the K3 or KDXG, if you want paper like experience.
Battery life : Any e-ink device will be better than the iPad. The K3 can last you up to a month in a single charge.
Size/weight : K3 and KDXG are lighter. iPad has an inconvenient 4:3 aspect ratio, although I guess this is a matter of personal taste.
Of course, I'm only considering a device just for reading text.
If complex PDF, comics, colour magazines, videos, internet and such are important, then the iPad is the obvious choice.
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