Depends entirely on what version of the RARZ you are looking at.
There are a few versions of the V3 (RAZR). The original V3, V3i, V3x.
Then there are a few versions of the KRZR; K1, K3 (is there a K2?).
Anyway, if style is your thing; the new KRZR (K1 or K3) are great looking phones. I have a K1, I'm pleased with its sleek look :)
I still have my original RAZR too, I still love this phone.
I have also had a V3x, although I liked this phone, with its beefier options and good video recording and camera; I would liked the thinner alternative of the V3i or V3.
I'll give you a few links on reviews for the phones, to help you on your way to a decision!