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OK, so the real question is: Would you rather have a defective old Nook, or a newer model that works properly. Stated that way, it doesn't sound like all that difficult of a decision.
I assume you don't expect the problem with your current device to get better by itself. But you sound as though you do expect that it won't get worse. My experience is that neglected problems almost always get worse. Clearly, you can live with the problem now. But in a few months, you may find yourself with a problem that's much worse--or a device that's entirely dead--and no warranty.
If it were my Nook, I'd take the warranty replacement.
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