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To answer just one of your questions:
It does not become a "normal" Android 1.5 tablet after rooting. Most Android apps will not run properly on it.
The trouble is, the eink screen is not a touchscreen, but android apps don't know that. So, for example, if the android app has a button in the middle of the screen, you will see it but you won't be able to press it.
Only apps specifically written for the Nook Classic will work, and there aren't many of those.
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