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Books for Kindle4PC automatically get stored in a folder called "My Kindle Content". You will find this folder in the "My Documents" folder.
Unfortunately, the second part of your question is a bit more complex. If the book downloaded is topaz format (indicated by a file extension of azw1) then you cannot remove the drm so that it could be converted to work on a Sony 300. If the book is a mobipocket format book, (indicated by a file extension of azw) then the drm can be removed so that the file could be converted to other formats.
The process can be somewhat complicated for folks uncomfortable with computing as it requires installing some programming software called python and finding a script on the internet written in that language. It is Mobileread policy not to allow direct links and detailed instructions for accomplishing this.
Perhaps a better question for yourself is "where will I be getting the majority of my ebooks", and "how much manipulation am I willing to do to read them on my device".
Amazon certainly has the largest collection and most attractive overall pricing if you will purchase the majority of your ebook. However, Sony is directly compatible with ebooks from the U.S. Public libraries and Kindle is not. It takes a good bit of work to manipulate ebooks from the library to work on a Kindle. Some of the U.S. libraries have a treasure of ebooks that you can read for free.
Hope this helps in making a decision. We all love reading ebooks.
cheers
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