slightly ambiguous answer?
While the interpretation of the B&N rep's answer to the OPs question seems likely, the statement is a bit ambiguous. Could the B&N rep be thinking about the limit on the recipient of the loan rather than the lender? In other words, can you lend the book only once or only once to any single recipient? I think some clarification is necessary before everybody writes the nook off. I think most would still prefer a still less restrictive lending policy than even one short loan per recipient, but the difference between one loan period & one per recipient is fairly significant.
If it turns out that the policy is indeed one loan period, it is not impossible with some concerted pressure that B&N might change the policy somewhat to mollify potential customers.
I'm not a likely purchaser of the nook w/ a 6" screen as I'm used to my Iliad, so I'm not the one to pursue this. Just thought it worth raising the possibilities.