Update:
I corresponded with David Seymour on another thread. The build performance is a known issue with IAR but they expect to address this in time. The KSDK is in beta after all. I did build with the MQX 4.x tools and performance is very good.
Given my project's needs (RTOS, UARTs, and a parallel bus to an FPGA) I'll use MQX 4.x for now. I also have experience writing my own peripheral drivers should it come to this.
The KSDK may be a better choice if you are using the supported chips, would like to use the free IDE, would like to take advantage of the peripheral drivers, and have a timeline that can accept some flaws in the beta software.
I suspect I'll use this family for future projects so I'll be keeping an eye on the KSDK as the notion of good peripheral drivers in addition to the RTOS is of interest.
Kenny