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I had several requirements..
1) Needed to support EPUB (later discovered Calbri so thats less important now, but still favorable)
2) Need to work IN THE DARK with out goofing around with add on lights/etc. So that eliminated Kindle, Nook, and all E-Ink.
3) Needed to be book size, ie a IPad is to big.
4) Must support loading books from any source (i.e. web, side loading, etc)
5) Must support highlighting, notes, and etc.
5) Bonus points if supported apps other then just reading
Based on that Nook Color jumped to the front of the line pretty fast. Ended up buying two of them, one for my wife and one for myself. The major con with Nook Color is $250 is steep for a E-reader, but I have been very happy with it and yes, I am sure I made the best choice.
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