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I don't own a Kobo but have played with the display models of the WiFi and the Touch side-by-side a few times, the Touch feels lightning fast compared to the WiFi. The WiFi model put me right off buying a Kobo, but the Touch made me think "oooh that's pretty good actually"!
Although I haven't yet compared the Kindle Touch to the Kobo Touch in the flesh, apart from the battery life on the Kindle maybe being slightly better, and ditto to AnemicOak's comments about perceiving the Kobo to be a bit more flakey than the Kindle, there doesn't seem much to choose between the two.
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