I have a Mac, and I have been able to access my local library's Overdrive service, check out both an ePub and a PDF, download the .acsm file, open it in Digital Editions, and transfer it to my nook without problems. This was with Safari on OS X 10.6.2.
As for reading the checked out books on the nook - I'm not a huge fan of how the PDF reflow works. The text seems either too small with huge margins - the actual PDF page - or too big. I can't seem to find a happy medium. The ePub, however, works great.
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