but

Which is correct?

"The man is not smoking a pipe but reading a newspaper."
or
"The man is not smoking a pipe but he is reading a newspaper."

Both are correct, but I like the first one better

In the second sentence, my mind keeps wanting to insert "instead" as in:
"The man is not smoking a pipe, but INSTEAD, he is reading a newspaper."

In the second sentence, if there is stress on the word "is" it alters the meaning somewhat (eg. [No,] the man is not smoking a pipe, but he *is* reading a newspaper.)