I have been running a cm7 / stock dualboot, with cm7 on the primary partition, so that it is easy to update cm7 as they improve it.
if you don't have a dual boot setup yet, it won't be very difficult. here are the basic steps:
1 - update NC to 1.2
2 - boot into clockwork recovery (probably from SD card if you don't root your B&N 1.2)
3 - from clockwork:
1 - run the dualboot prep.zip
2 - run the move eclair(stock) to dual boot.zip
3 - run install cm7 zip (regular cm7 install rom)
4 - run gapps install zip (you may want to do this after you boot into cm7 once to setup wifi).
pretty simple. the most difficult part is probably creating the CWR sd card to boot from.
for more detailed instructions, see http://www.mobileread.com/forums/sho...1&postcount=24
The big difference from that post is that you are going to create a sd card to boot from to get into CWR instead of rooting and then installing it to the NC.