So it sounds like the only change is a slight cosmetic one, the built in illumination (which should be pretty nifty) and they somehow managed to make it just a hair lighter (about half an ounce, or about 8% lighter). It doesn't look like there are any changes to the processor, memory, storage, battery, dimensions or screen. I guess a perk is that the cover I have should fit it. I am pretty dissapointed that it looks like they made absolutely no other changes to it...and on top of that are asking for what is in effect a $40/40% premium for just front lighting. If they had at least made some other minor changes, like increasing storage space even, I think it might be worth it. However, if nothing else, a nice LED book light is about $25...which I don't think means that the built in lighting is really worth commading a $40 premium.
All that said, I'll give it 6 months or a year and probably get a refurb then or something similar once the price dips to $100 or less. It would be a nice feature, and I can't complain about any weight reduction (not that I think my nook ST is heavy, but it can always be lighter)...but I already have a nice LED book light, even if it isn't as convenient as having it built in.
That and I can't help wondering if there is going to be a fully on "revamp" in the next 4-8 months anyway as this seems really like a quick interim release to try to muscle more of Amazon's Kindle market, and not what the next nook is really going to be (though I kind of hope they keep the same form factor/size in the next nook as I really like the nook ST's dimensions and form factor).