Which phone would you buy and why???
I wanted the Note. Now the Galaxy S 3 is on the way... Might get the GS3..!
First thing I would say is that the Note is not merely a smartphone, so there is no device on the market like it. Thus the two don't equally compare, because the use cases are different.
It's important to remember that the Note is for the person that wants to carry an all-in-one device, whereas, the GS3, and every other smartphone, is designed for one purpose.
Ultimately, I believe it will come down to what do you want from a device. If you want a device that allows you to carry one device that has adequate screensize for a tablet replacement, all features of a high end smartphone, the added functionality of an electronic pen & notepad, and you want this in a lightweight, portable package then the Note is your device.
However, if the large screen is too big for yor comfort, an electronic pen & notepad feature has little or no interest to you, and you're perectly happy owning or carrying a tablet for web browsing, eReading, and viewing videos, then a smartphone likle the GS3 should be your choice.
Personally, since owning the Note I have sold my GS2, Tab 7.0, and Kindle Fire, and now just carry my Note with me into meetings at work, around the home, at church, and everywhere I go.
I still own an iPad, but it never leaves the house and I barely pick it up anymore. My kids use theiPad primarily for their entertainment.