For anyone who is looking, I purchased a similar "certified pre-owned" Nook through Buy.com last week at the same price. Like these appear to be doing, it shipped directly from Barnes and Noble.
It was immaculately clean and and looked brand new out of the box when it arrived yesterday. The packaging was exactly the same as a new Nook, but with a "Certified Pre-owned Nook" sticker sealing the edge of the box.
I was a little worried about buying a refurb unit, but now I'm glad I did. It is indistinguishable from a new unit and at a good price. I still don't know yet if I like it as much as my Kindle3, but I'm glad I picked it up as a second reader for my wife and I to share. (and so we'd now have access to pretty much all formats/stores)