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Also is there a particular format that is better than the other. Because I've seen that an ebook in mobi format is generally larger than an ebook in epub format. Perhaps there is more detail in the mobi format?
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I'm not sure why they're larger. I don't think there's difference in detail. There's some technical differences but doubtful any you would be concerned with.
To me the Kindle actually feels more solid and refined than the Sony despite the Sony's metal frame, but that's subjective. In my experience Sony makes good products, so I wouldn't doubt its quality.
You mentioned wanting a decent browser. Depending on your expectations, you should find the browser on any of the devices adequate for text-oriented browsing, but little more. Keep your expectations low.