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From the sounds of reviews, the nook really has some time issues. Slow page turns, slow loading of books, a bit laggy. But, on paper it is on the right track, much more so than the Kindle. epub, android and the potential for e-reader apps sound awesome.
I think once they iron out hardware or software issues (whatever is making the device so slow), then it will be a lot tougher competition. Right now it's just a mediocre product, with lots of great innovations but let down by implementation.
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