The Paperwhite has a much better reputation regarding speed than the Nook...
As far as the memory goes: To quote myself on a different thread,
Quote:
Originally Posted by eschwartz
And since the 3.5GB in the Kindle Touch can hold about 3,000 average-sized books, you don't need expandable memory. If you read 100 books A DAY you will still have one month of reading on your Kindle. At a more reasonable but still exorbitant 3 books a day, you will have nearly 3 YEARS worth. I'm sure somewhere along the way you can get to a computer and swap them for new ones.
(Same logic applies to every other eReader, including the Kindle Paperwhite which has (shudder) a measly 1.5 GB and about a year's worth of books.)
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So if you're going to give up on the Paperwhite just because of that, well,

.
But many people enjoy their Kobo for much better reasons, because Kobo is much more customizable than the Kindle. It depends if you actually value that.