I'm a newb but I think jocampo does a good job summarizing the differences between the screens - to someone who may not fully realize what e-ink is, I think that's helpful.
When I first saw the flash page transition of an e-ink screen I thought it was TERRIBLE! Then I went home and read about e-ink and the differences between it and an LCD screen and went right back to the store and bought my ereader. If I hadn't learned about the advantages of eink, I would have thought it was lousy tech and would have missed out on the fantastic experience of my ereader - like reading in the sun! I love eink, but that's a personal preference.
[And I don't notice the flash page transition at all anymore - the brain really does adjust and you seriously don't notice it at all.]
That said, if the Nook Colour works for the original poster, then, yay! We're all looking for different things, after all.
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