please backup your nook first, using dd or another app... that way if anything goes wrong, you can return your unit back to 'normal'...
that said, rooting was simple and quick using the touchnooter image... i wrote it onto a 4GB microsd in an SDHC carrier inserted into my Ubuntu Asus eeepc 900 netbook... popped it into my powered down nook touch, booted, followed a few directions, updated the market app, and now i'm good to go...
the cool thing about rooting the nook touch is that you don't have to use the extra Android stuff, and can simply use your reader 'normally' with the same out-of-the-box user experience...
it's just that some extra goodies (working browser, gmail, landscape ereader, calculator, etc.) are available instantly if you want...
just my $0.02, YMMV
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