Whatever you end up with, carrying a backup is prudent. Steripens can fail or batteries can be used up, and filters can clog (though you can usually fix this if backflushing the Sawyer or doing field maintenance on the MSR). I prefer ClO2 tabs like the Katadyn ones. A little dropper bottle of bleach would do the trick too and be cheaper. Either is light insurance.
I guess I should state why I prefer the Sawyer Squeeze over the other options:
1) Doesn't rely on batteries. As long as I backflush before flow rate suffers too much from clogging, I can use it indefinitely. Week long trips in the Sierra: backflushing not necessary.
2) Weight (though may be a wash when compared to Steripen depending on length of trip. This takes into account reservoirs, batteries, backflush syringe if needed etc.)
3) Greater versatility for me in terms of where I can employ it (I don't always backpack where there are clear Sierra water sources).
4) Any suspended particulates gets filtered out, stuff which could potentially shield pathogens from irradiation if using steripen without an adequate pre-filter.
5) I can set the filter up and let gravity do the work for me while I do other stuff (not as well as the inline, but you can still do a good job with the bladder supported on a rock or log above the bottle).
6) Taste (same with all filters, and probably a little improvement over steripen depending on how funky the water is. I just used chlorine dioxide tablets for a long time as my only water treatment, got sick of the taste, even with efforts to aerate).
7) I can process more than a couple of liters pretty quickly, when traveling with more than a couple of people. Though the steripen is pretty fast too, in 1L batches. I kinda look at the Steripen as good for liter or two on the trail and the Sawyer for camp water.
Edited to add 8) Cost. You can get the basic Sawyer Squeeze with bag for about half the cost (retail) of the Steripen Adventurer. REI sells the Steripen Adventurer for $90, while the Sawyer with one stock 1L bag sells for $40... Even with the additional cost for a platy or evernew (assuming you can find one), you're still looking at probably half the cost of the Steripen. Additionally, it's a one time cost for Sawyer, you have to keep buying CR123s for the Steripen.
I should emphasize that I'm not claiming the Sawyer is objectively better. The Steripen can treat viruses, whereas the Sawyer does not. The Steripen will never clog, nor will it suffer damage from freezing temps (and lithium batteries like the CR123s perform fine in cold). If I'm concerned about viruses, I'd need to follow my Sawyer Squeeze filtration with chemical treatment or boiling. Generally not a concern for me in the states though (and the 0.1 micron absolute filtration of the Sawyer takes care of bacteria and protozoa). The steripen is indeed quick, particularly when you only need to scoop and treat a liter or two. My buddy's been using one for a while, and the slowest part of his process is the pre-filtering.
Like most things, I think it comes down to personal preference. I like the Sawyer Squeeze for the outdoors, but would love to take a Steripen traveling out of the country.
Interesting side note: I learned recently that a UV facility has been installed to treat Hetch Hetchy water. Since the water is pretty much pure snow melt, from my understanding, filtration isn't required. But the UV treatment was added for better log inactivation of pathogens. Scaled up steripen

Edited 3 time(s). Last edit at 08/27/2013 04:55PM by HikingMano.