Star San and K-meta are both excellent sanitizers, but they do their jobs in different ways and have other differences, as well.
Contact: Star San sanitizes by contact with microbes, while K-meta sanitizes by releasing vapors. Not requiring direct contact makes it superior when it comes to reaching hard to access areas like tubes and hoses.
Timing: Star San kills microbes quickly, generally well under one minute. K-meta requires about 6 minutes to do its job.
Shelf Life: A Star San mixture lasts a very long time (years) and can withstand temperature changes and air without loosing effectiveness. K-meta is very sensitive to climate and will begin loosing effectiveness almost immediately. A K-meta mixture should be kept in closed glass container with a plastic cap in a cool location or it will be come ineffective in about 6 months.
Cost: Even putting aside shelf life, K-meta is many times more costly per use - something like 6-10 times the cost of Star San.
Rinsing: Neither K-meta nor Star San require rinsing. However, some care should be taken with K-meta because it does increase SO2 levels.
I use both products, sometimes even doubling up when I sanitize. I like K-meta for tubes, corks, and few other things. Sometimes I'll spray it in the carboy and just leave it for an hour. For both products I use sprayers.
Tony P.