The newest Nook eReader is awesome. It is my current favorite. If I were to buy an eReader, this would be the one I would get.
It is black and white, so it has the eInk technology that looks like real paper. There is no glare. Of course, that means you can't read in the dark, but it also means that the screen looks great in direct sunlight. There is a tiny bit of flashing when you turn pages, but B&N claims it is 80% less than other eReaders. The only devices that don't flash between page turns are those with full-color displays.
It is wifi enabled. You can purchase books wirelessly through the Barnes & Noble eBook store. When I tried to download a free title, though, I couldn't because this device belongs to the library and does not have a default credit card set up. Even free titles apparently require a credit card number on file. But...if it were my own device, I could download both free and for-pay titles through the B&N store wirelessly on the device. Also, Nook has a "LendMe" feature that allows you to share and swap titles with other Nook users.
I also transferred an Overdrive title to the device. It was just as easy as the other Nook devices. Just download the title to your computer, open it in Adobe Digital Editions, and drag the title to the device in ADE. This requires the device to be connected to the computer's USB port. This device is also compatible with Project Gutenberg and Google eBooks collections, as well as any other ePub
It has a real touch screen. Not like the black & white "original" Nook, which has a touch pad area at the bottom of the screen, but a real, full touch screen like the Nook Color. You turn pages with a swipe of the finger on the screen. You type with a fully touch keyboard. You make selections on the on-screen menus. I also love that the menus are very easy to open and close. They have little Xs in the top, right-hand corner of the menus, so it looks like closing a menu on a Windows computer. You just tap the X and the menu closes. Touch the screen anywhere and the menu appears.
This device is the perfect size, shape, and weight. It is about as big as my hand - 6.5" tall by 5" wide (see picture below). It's the same size screen as the Kindle (6"), but the device is smaller because it doesn't have that button keyboard at the bottom like the Kindle does. It's 7.48 ounces in weight, which is lighter than your average paperback book. The battery life is up to two months (depending, of course, on how long you read in one sitting, and less if the wifi is on. I believe that is based on half-hour reading sessions with wifi turned off.)
As for other features, you can re-size the font, choose from different font styles, bookmark, highlight passages, and connect it to your social networks. Want to tweet and facebook passages you are reading? Want to tell people what page you're on? Just go to the "Social" setup menu and connect your profiles. See the picture below.
-Holds 2GB, or roughly 1,000 books.
-Has a microSD slot for more storage.
-Supports ePub, PDF, JPG, GIF, PNG, and BMP files. No audio.