I'm hoping that my experience will be helpful to those of you who are considering purchasing an e-reader.
I really didn't have an interest in getting an e-reader until this summer during the Kindle/Nook price wars. I decided I wanted an e-reader because:
- I read a lot.
 - I have limited space for physical books
 - E-books are cheaper (generally)
 - Having access to books when I travel without having a lot of extra luggage
 - Publishers switching to e-galleys as a form of ARC distribution
 
So, based on those reasons I wanted a reader that would fit my needs. My choices were between the Nook and the Kindle.
Kindle
Pros:
- Weight and size. The Kindle is light, and has a large viewing area for its size. It's also very thin.
 - Superior e-ink technology. The difference between the Kindle and the Nook in e-ink technology is noticeable. The Kindle has a slightly faster refresh time as well.
 - Longer battery life
 - Slightly lower price
 
- Is not compatible with the EPub format used by the google ebook store. Also not compatible with the Adobe Digital Editions format used by Simon and Schuster Galley Grab program.
 - Does not have the lending option. (Amazon has announced that they will have it by the end of the year, so that wasn't that big of a deal)
 
Pros
- Compatible with the Epub and Adobe Digital Editions formats.
 - Color touch navigation screen
 - In-store support at Barnes and Noble
 - More friends have the Nook so I can borrow and lend books.
 - Expandable memory with MicroSD cards
 
- Heavier than the Kindle
 - Shorter battery life
 - The wi-fi version is white (silly, I know, but I love the look of the graphite Kindle)
 
I don't anticipate my Nook replacing my current library any time soon. Really, it's just a part of my entire reading experience. I still plan on using the library, and buying real books.
And, the most important decision... The name of my new Nook is Hermoine.