The MK looks like it would hold more, the LP kinda flat, but it depends on what you usually carry. I have several MKs and have only good things to say about them.
Thank you so much for all your input! I love the LP leather as well, as I saw this purse in Yellow at Bloomingdales. However, the MK is more versatile, meaning I can use it for work, or on the weekends running errands w/my toddler.