Bookworm_Girl's comments reflect my own experience pretty closely.
Ultimately, the two feel very different and have quite different interfaces. Really, you need to go to a store where you can hold the Sony and find someone who has a K3 you can look at 'in the flesh.' Amazon have an excellent returns policy, so it may be possible for you to order one to try and then return it, depending on your location.
I think most people know pretty quickly which their preference is for. I suspect the main deciding factors will be whether you prefer the Sony's touch interface, nicer tactile-feel to hold (I take ereaders out of their cases whenever possible) and dictionary support, or the K3's wireless, thinner form factor and general user interface. I will say that the way the two handle fonts is very different. Amazon tends to aim for sharper lines and higher contrast, Sony more rounded with a bit of fuzziness in the rendering (talking about the rendering engine, rather than the screens).
I enjoy having both, and find they compliment each other well rather than simply duplicating each other's features.
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