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Yes, that is correct. If you want to "root" the B&N software, and have access to the Android Market, you will need a gmail account, and I believe you also need to "register" that gmail account w/ youtube. The rooting process uses a trick to get your gmail account entered into the nook color by actually logging into youtube first.
If you go to gmail.com, you can set up a free gmail address. Then go to youtube, and use that gmail address to login.
Once your gmail address is created, you can go into the gmail settings (on the gmail website) and set up gmail to forward any email sent to your gmail account to your regular email account. That way you don't have to keep checking your gmail if you don't want to. Although if you never give your gmail address to anyone, you won't get any email there. The android market will only send email to that address if you purchase apps (receipts etc.).
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