Now that the nook reviews are out and units will be in consumer hands starting today, we're in for a lively time in e-ink world.
I (I can only speak for myself), consider the nook to be the first real competition for the Kindle. I'm really looking forward to seeing what the next generation Kindle will bring (though I still want a PL Que and/or Alex). K3 could be out in the next 2 to 6 months (a total guess).
I don't need the whiz bang of the LCD screen (cool as it is). I hope the new Kindle brings much better book organization be it folders or tags, Maybe some non-DRM ePUB support. A better PDF feature with dictionary look-up and notations.
So let's all sit back, relax, let the Titans fight it out (we don't need to fight each other), and reap the rewards of the battle.