I get the impression that the Nook's primary format will be eReader and that's what you'll be getting from the B&N store. Will it support ePub with DRM? Adobe Digital Editions? To my mind a commonly-accepted standard format is essential to widespread eBook acceptance and ePub, preferably without DRM, but even with DRM is the best current candidate. I just hope that Nook doesn't further muddy the situation by pushing eReader.
On a different topic, i'm curious to see their pdf capability, hopefully with some sort of reflow capability to fit the small screen. The Kindle DX's pdf capability doesn't quite cut it.
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