While Harry's warnings about the Sony bear noting, you should still consider the Sony, as the difference in cost may be significant.
As for the formats it supports, that's unlikely to be an issue as while it doesn't support MobiPocket, it does support various formats natively (.lrf & .lrx but also including .rtf) and there are various tools to allow you to easily convert from other formats, such as MS Reader .lit format.
For instance, yesterday I bought a copy of a Baen book, downloaded the .LIT and right-clicked to launch my "lit to lrf" script which used the libprs500 lit2lrf app. A minute os so later, there I had a Sony format ebook (including cover image) ready to drag to my reader.
As for fonts, with the Sony, you can only change between "Small", "Med" & "Large" on the fly - if you want to select different fonts you need to embed them in the eBook at creation time (and it does slow down the page turn speed). Whether or not that or the lack of a dictionary is an issue for you is a personal decision - it doesn't really matter to me, but I can see how others would require those features.
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