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I'll speak as someone who owns both.
What is the battery life like in comparison between Nook, Kindle 3, and Kindle DXG?
K3 is amazing on battery life. I went almost the full month stated without charging mine, Wi-Fi off 99% of the time, of course. With the nook I am down to around 60% already after only a few hours of usage, and that's in airplane mode. K3 wins here easily.
What is the average time it takes from off/standby to actually be reading a book?
I haven't timed them, but I would say the K3 is slightly faster in both areas.
What is the page turn times like on Nook/Kindle 3/DXG (<1s, <500ms, >1s)?
With the nook it is a few seconds or less, as others have said. Haven't timed the K3, but I would venture to say under 1s is correct. It is fast.
Do they offer sync or are they planning on producing sync option between reading devices?
K3 wins here again, can sync between different Kindle models and my Droid. Nothing for nook as of yet.
Do they offer in-text search? I know Kindles do but not sure if Nook does. It would be much easier to sync if I could use text based searching and no other sync option is available.
Both do.
What is novel sorting/grouping like in comparison? I would like to group titles manually, impossible on Kobo (by Author, by Title, or by Currently Reading only).
K3 winner again. Collections aren't folders, but they are better than what the nook has, which is pretty much nothing.
Is there an on-device favorites or currently reading group? Can you add or remove titles from favorites?
Nothing on the nook, apart from the currently reading icon that was mentioned. On the K3 you can make a currently reading or favorites collection. What I do is put books in either "To Be Read" or "Finished" collections, but I leave the one I am currently reading out on the main K3 screen. Works very well for me.
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