Decisions, decisions!  What do you intend to do with your new-to-you Krag?  Go hunting?  Hang it on the wall?  Put it in the gun safe?  Shoot jacketed ammunition, commercial or reloads?  Shoot cast bullets?  Undertake a restoration project?

Before you decide, try the trigger pull on both.  That may be a deciding factor.

For hunting or for a shooter, especially with cast bullets, I would favor the carbine.  If you intend to shoot jacketed bullets, maybe in some sort of "old warhorses" organization, the rifle might be best.