On the issue of weight, yes, the Nook is 'only' 12oz but the PB360 is 5.3oz which is less than half the weight of the Nook. For some people, especially elderly or those with fragile wrists, this is a big weight difference. That said I own a Nook and a Jetbook-Lite which is 7.5oz and have not really noticed a weight difference when I'm holding each with both hands. When I'm holding the Nook in one hand I do notice a difference but it is more because the forward page button is the *bottom* button and tends to make the Nook top heavy whereas I find the Jetbook-Lite weight more evenly distributed due to the way it's setup. Not owning a PB360 I can't say for sure that it's the same but looking at a picture I imagine it would be.
There are two important issues to consider before making the switch to the Nook.
One is the fact that the Nook does not have any folder management on it. Yes, rumor has it that it will be included on the next firmware update but rumor had it we would get it with the last one and instead we got Sudoku, Chess and a crappy web browser. Yes, you can go to Nookdevs and install their Library software which I've heard is excellant but you do run the risk of bricking your Nook and if the people at Nookdevs can't get it unbricked you're screwed. Or you can do as some people suggest and only carry 20 or less books on it which, to me, defeats the purpose of being able to expand the memory to at least 16GB.
The other issue is that you can only put EPUB files on it. Well, technically you can put PDF/PDB files on it too but I've yet to have one actually appear properly so I don't count them. If all you read are EPUBs or you are familiar with programs like Calibre which will converts various formats to EPUB then it shouldn't be an issue but it is something to keep in mind.
Otherwise the Nook has an excellant screen and B&N has a great selection of ebooks.
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