I have been asking on the B&N eBook forums for two days now if the Nook is going to work with Overdrive/Libraries. Each time they respond with a very vague answer:
Any content that does not come from B&N has to be loaded manually to nook using the USB connection. nook accepts only the format types specified in the first message in this thread.
nook accepts EPUB, PDB and PDF files for reading, MP3s for audio, and JPG, GIF, PNG, or BMP for screensavers.
But would I want to know is if the Nook will be able to read the DRM on the ePub and PDF files from Overdrive. That is the question they aren't answering. It seems the people answering questions don't really know many answers so they keep beating around the bush.
The only reason I want and ebook reader is to use it with my library. I don't like the Sony Readers and this is the first decently priced reader that looks like it can do that. I have no plans to ever purchase content on their ebook store or anyone elses ebook store. I would consider it though if prices came down drastically, even Amazon prices are too high for me.