When comparing Kaleidoscope vs P4Merge, the Slant community recommends P4Merge for most people. In the question“What are the best folder/file compare/diff tools for either OSX, Linux or Windows?” P4Merge is ranked 5th while Kaleidoscope is ranked 12th. The most important reason people chose P4Merge is:
P4Merge is free of charge.
Specs
Ranked in these QuestionsQuestion Ranking
Pros

Pro Simple UI
Kaleidoscope has a beautiful and simple UI. It displays the two files that are being compared side to side, highlighting all the differences in a way that's easy to understand.
Pro Diff within a line
When working in code, line-by-line diff can still be hard to spot small changes within the line. Kaleidoscope will highlight what has changed.
Pro Supports comparing folders

Pro Image difference viewer
Kaleidoscope supports image diff viewer in addition to git diff. It's able to find even the slightest changes between two versions of the same image.
Pro Free
P4Merge is free of charge.
Pro 3 way merge support
P4Merge presents merge information in 4 panes - BASE, LOCAL, REMOTE and MERGE_RESULT.
Pro Detects minimal changes without having a common ancestor
After a merge sometimes you have conflicts. You can resolve them by using a merge tool. You can run git mergetool --tool-help
to get more details about what tools are supported.
You will get an output like the followinggit mergetool --tool=<tool>
may be set to one of the following:
p4merge
tortoisemerge
vimdiff
vimdiff2
vimdiff3
The following tools are valid, but not currently available:
araxis
bc
bc3
codecompare
deltawalker
diffmerge
diffuse
ecmerge
emerge
gvimdiff
gvimdiff2
gvimdiff3
kdiff3
meld
opendiff
tkdiff
winmerge
xxdiff
Some of the tools listed above only work in a windowed environment. If run in a terminal-only session, they will fail.
Pro Also has image diffing
For those who are working in both text based source code or files, as well as images, its nice to have the diff functionality of both present in the same product.
Pro Cross-platform with a good Mac port
P4Merge works on Windows, Linux and OS X.
Cons

Con Mac OS only
Kaleidoscope is a Mac OS X only app.
Con Paid software
Kaleidoscope is not free, costing $69.99.
Con Directory comparison is not supported
With P4Merge it's impossible to compare two different directories to find differences.
