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Kindle is faster, allows you to organize books into collections, you can change the dictionary (I currently have French-English installed on mine) and is imho less buggy.
The only upside of the Kobo is the epub support, but if you are even a little techie, epub is a very easy DRM to liberate and then you can use Calibre and send it in mobi to the Kindle.
I think that the Kindle is an overall better choice, but I can see how if you are not techie, the Kobo would have appeal.
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