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I own the Nook Color, but only read a couple hours a day. At that rate I can go several days before realizing I forgot to plug it in, and it still has plenty of power. It has never run out on me. I do have the screen brightness at min (big battery savings) and wifi off (not as big, but still some).
E-Ink has 2 advantages, 1) insane battery life, and 2) much easier to read in direct sunlight. If those two features are import to you, then get an E-Ink based display. Otherwise you have a lot more flexibility in a Nook Color (or other tablet style) reader.
(Note: some ppl find e-ink easier on the eyes, some find lcd easier on the eyes, some notice no difference... so ymmv on that one)
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