You're probaly getting the message now, that both are excellent devices. It all comes down to what you want to use it for. As a personal organiser with diary, Email e.t.c the palm may be the better choice.
As a serious alternative to a laptop running windoze, the Psion has my vote.
I use a Series 5, and a Nokia 8210 ( with IR Modem built-in) I use it for remote support of 500 Unix servers 24x7. I use telnet, ftp, Email, Web. When I'm on-site, I can even plug it into the back of a Sun Server and use it as the System console. Cytrix Winframe client is available for it, so I can run a windoze desktop if needed.