I would say the big factor is what you want to read.
Novels? The K3 is the best choice.
Comics/Magazines, maybe even reference books (probably not big enough for that, though), then the NookColor.
The battery life on the K3 is impressive. I got mine at launch, I've only charged it once. It's gotten enough juice when I hook it up to add books. But if you leave wifi on and only get books from Amazon, yeah, it's probably closer to the 2 weeks.
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