Don't think the Kobo Glo is a bad product at all, but depending on your light sensitivity, you might find the light on it a little bright and a little blue. I did read one review which rated the new Aura very highly saying it was a lot better than the Glo (I think they rated it 9 compared to the 6 they gave the Glo - I can't find the review), and if you look at this video
comparing the Aura HD v Glo, I immediately notice the very blue tinge to the Glo's light.
I think the light on the PW2 looks much better, but if that blue tinge doesn't bother you.... then you might be happy with the Glo. The Kobo firmware is prone to bugs, but it is far more customisable than the Kindle.