The Nook does not have folder navigation, and I'm not sure it shows cover images for non-B&N ebooks (since the B&N Windows app does not do this).
The eSlick has been out for a while, but the latest firmware update with eReader and (DRM-free) ePub has really made it into a different device. The hardware is a Netronix EB-600, which is used by a lot of different EInk Readers (Bookeen Gen3, Cool-er, ....). It is a good design, if a bit outdated (e.g. 4 level gray scale), and the only consistent complaint against it is that the keypad can be stiff. The eSlick firmware is by Foxit, and it does have folders.
Note that the Ectaco Jetbook is supposed to be getting DRMed eReader support in its next firmware update, due this month. It isn't EInk, but it does have folders. Another potential option at the other end of the price scale is the iRex DR800SG with an 8.1" EInk screen, which was supposed to be out by now but has been delayed. It has folders and eReader support.
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