If you first remove the DRM (encryption), which for eReader and B&N ePubs uses your credit card number as the password, then Calibre can convert eReader pdb's and ePubs to MOBI for the Kindle. There are tools for circumventing most DRM schemes, see Apprentice Alf's Blog for a summary.
If you are happy with B&N, then the Nook is a good choice. The Kindle 3 and the Kindle store is better than the Nook and B&N store in my opinion, but the difference for mainstream reading isn't large and a lot of the difference is software (and B&N may add features to complete with the K3).
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