There have been issues with pretty much all nook models with flakey wifi on certain brands and models of wifi access points. My nook color did exactly what you describe here at work until the last update. It would connect, pick up an IP address (I could see it on the DHCP server), I could even ping it from a desktop comptuer, but it couldn't connect to anything outgoing, not the B&N store, not web sites, and not email. The last updated seems to have resolved it, so there's hope. In the meantime, your best bet, if you care enough, is to try a different brand of access point if you can.
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