The King Tour Pak is a heluva lot cheaper than getting a trailer and a hitch and a harness and..... Well, you get the picture. And I'm dumb enough to have two bikes, four tour paks and a trailer; so I should know

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Ok, a little less smart ass. Some kind of extra storage beyond the saddle bags is very handy. The tour pak is actually the most convenient regular access point you'll have. So that's in your favor. If you leave it on the bike you will use it.
Chopped versus king. You'd have to buy the chopped. Right off the bat that's a negative. The chopped does look better. And it can hold stuff. Just not lots of stuff. Will hold a half helmet. Nothing taller. So if you're carrying much the King pak is a better option.
If you prefer the boulevard cruiser look and would only use extra storage for travel the King is definitely the way to go. Not on that often but when it is on you've got as much space as you can have.
Unless you're never going to do more than local hopping on the bike the tour pak will be a benefit. If it's always only going to be a local hopper than sell it and buy more chrome.