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For me, the biggest difference between the two is that Kobo has books I'd like to read; fairly frequently a book that I actively look for turns out to be available on Kobo Plus. Whereas KU has nearly entirely unadulterated carp; more does not equal better by any measure. I've never been very successful at finding books to read on KU and even when I do, either I abandon them or I don't think they're all that good. Price would be the next consideration.
That said, neither one is cost-effective for me; I want to read what I want and OverDrive has more books to my taste for free.
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