I have had a Kobo Reader since they were released in Canada in May 2010 and have read at least 4 or 5 dozen books on it. I purchased the new Sony S tablet(Android 3.2) last week which includes the Sony Reader software and was able to easily download the Kobo ap and Kobo library.
Some preliminary thoughts:
I like reading a non-graphic book such as fiction etc on my Kobo with e-inkl
Reading a newspaper,non-fiction or reference or other publication that has color in it, I prefer the tablet
For whatever reason some non-fiction cookbooks I purchased from Kobo seemed to format much better on the Sony than on the Kobo
For the most part my Sony is a great couch computer and my Kobo reader is still doing its job as a basic reader. My sense at the moment is that they both have their place
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