I haven't really used my NC outside, so I can't speak to that - but I have been pleasantly surprised with the battery life. It's not up to EInk standards, but it's much better than I would have expected. It's my third LCD based reading device and I've never run out of power on it yet.
If you do go with one, I would suggest you consider rooting. Yes it makes a decent tab, but the biggest benefit I found was that I could install other reading apps - including ones that support using the volume controls as hard page turn buttons.
I'm happy with mine.
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