I can only say good things about the NC. I have rooted mine and one other for a friend. He stated that this was the best gadget he owns.
I am almost right up there with him. As an ereader, it works as BN intended with a good selection. Magazines and Newspapers are topshelf. I subscribe to a few and have been extremely happy. I have ADW for the root and it works as intended. The full android market is available as well. The screen is great for those that use the browser(I am ready for pinch/zoom whenever you are BN). I have watched a few movies on it and the picture was superb. You do have to recode most movies in order for them to play(miro with android settings works perfectly) but I am sure you can get by with handbrake as well. I could not justify spending 500.00 on an ipad. 250.00 is a perfect price and it does what I need it to do.