I'd go with CBZ over CBR, most mobile devices have better ZIP support than RAR support.
Having said that, the real issue holding CBZ/CBR back is the fact that because the file is essentially an image archive, it's very difficult to apply DRM to it. Personally, I think that's a strength, but most publishers disagree. It's a pity, because it's easily the best format for comics.
It makes me wonder if BN's discontinuance of the 3G Nook wasn't a wise choice. No 3G means delivery over Wi-Fi, which is much cheaper from all perspectives than 3G.
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