If you are wanting to root the Nook (get access to change things on Nook like the way non B&N books are in a different folder and don't have cover flow, etc...), it is much easier to root Nooks with serial numbers starting with 1001-1002, once you get to the nooks starting with 1003, they get more complicated to root.
If you are uninterested in rooting, it doesn't matter what serial number you have. It also doesn't matter what firmware you have (1.5 is the newest) as it it extremely easy to update.
I would check the page turn buttons as some of the first nooks had problems with the buttons cracking. I can't really think of anything else. Hopefully he has some of the free B&N books on it so you can see how it works, but if it is unregistered it probably doesn't have any.
Good luck!
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