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I started with the 1st Gen nook, moved to the ST, then the ST with Glow and most recently the Kobo Glo HD. My wife went from the ST with Glow to the current nook Glow.
My favorite of the ones listed is the ST with Glow. It has page turn buttons, an external SD card and is a pleasure to use. I did have one issue with the screen when I dropped a usb cable on it and the corner of the plug hit the screen, but B&N replaced it and I haven't had an issue since.
The Kobo is my second choice. It doesn't have the external card, but the 4gb is sufficient for my library, and unlike the current nook, the user has free access to all remaining storage. It is smaller than the ST and pretty comfortable to hold. It has a better screen and sharper text and while I haven't explored it fully, I enjoy reading on it and find it an excellent replacement.
My wife loves her nook Glow. She only gets books from B&N, so the partitioned memory isn't a deal breaker for her. She hasn't had any "light tears" or any other issues.
So far, I find nook book prices cheaper than Kobo, although Kobo seems to be free and easy with coupon codes and sales on ebooks. B&N does not offer discounts on ebooks. At least not that I have noticed.
B&N and Kobo both use epubs, so if you do strip the DRM, you can add the books to either device without converting them - not a big deal in Calibre, but one less thing. I will probably continue purchasing most of my books from B&N, and side-loading them with Calibre to the Kobo
My recommendation is the Kobo Glo HD over the nook Glow. That being said, if nook ever came out with a device that brought back the sd card or at least dumped the memory restrictions, I would probably go back.
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