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Actually, the older version was pretty good for just reading individual books (none of the fancy library or syncing functions, but you could make notes and highlights and customize the fonts and background patterns).
It just had this nasty tendency to crash on DRM-ed ePubs and was getting out of date because you could only read DRM-ed PDB or non-DRM ePub, so your B&N purchases were mostly unusable.
Personally, the new NOOK for Mac is kind of a step down, even if it does now support ePub. B&N users are by far better off installing NookStudy for Mac, which has the exact same features and more, and decent enough to be a worthy replacement for the old B&N eReader.
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