Okay, I've figured out the storage riddle. When you connect the Nook GL 4 to a Mac or PC, what happens is that a folder named spsd opens, and you see the contents of that folder on your Mac/PC (but not the spsd folder itself). That folder is 5.36 GB, more or less. If you enable developer options, install a launcher and then install a file manager, you discover that spsd is one folder in Storage and you can access all of storage for apps and books, without root.
That said, one benefit of root would be to allow the page turn buttons to work for third party reader apps.
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