I love my Nook Color!
Unfortunately, mine has developed a problem with the power button - it sticks, which sends it into endless reboot cycles until you can convince it to unstick. B&N is sending me a replacement. The first customer service rep I got was an idiot, but the second one was good - when it took 10 minutes for me to get my NC stable enough to be able to retrieve the serial number - she understood my problem.
Other than that, it is an awesome device - love it love it love it! Now just waiting on one with a good power button. (I see where refurbs come from - my NC is perfect but for the power button!!)
Rooting is tempting - but I will probably wait to see what the B&N app store has when it opens. I am hoping for a Kindle app, due to the massive amount of freebies they give away.