To be honest, there are a lot of phones now with specs to challenge the Note 2. However, the USP of the Note and Note 2 is not size and specs alone. What the phone does with software on board is the differentiating factor. What is the use of having a "big-screened phone" if all it does is regular "phone stuff"?
The Note 2 became popular because of its differentiating features - hardware wise the S-Pen and software wise a truck load of features designed to make use of extra screen real estate. The K900 and others (Optimus G Pro etc) offer no new innovation except they are 5.5 inches with 1080p display and newer processor - big whoop!
It can’t do half the things the Note 2 does! And if people believe that these phones stand a chance against the Note 2 at a similar price point for half the features - well their "superior mind" levels are similar to sales figures of the K900 and others!
Dont get me wrong, I actually like the K900 for a few things based on it being a PHONE and PHONE Only! No I wouldn’t call it a phablet, it is simply a blown up phone. But for a PHONE it is a gorgeous device - so large yet so thin and not overly heavy to hold. Plus I have a soft corner for the Intel processors always. Maybe compared to the gs3 it comes off great but again with the current flagship the gs4 - unless aggressively priced, I would prefer the gs4 simply because it too good.
I guess moral of the story is, buy a phone based on its utility. Not because it has copied another’s design paradigm and does not deliver what a phablet is supposed to and ends being a rather humongous Phone. If you are fan of big phones definitely go for the K900. But don’t hope to stick your tongue out at a neighbor’s Note 2, because if he/she starts showing off - believe me - you will go back to your mommy crying!