As a new Nook owner who really has no loyalty to any company, I can tell you three advantages that the Nook has over the Kindle that many Kindle owners neglect to acknowledge.
1. User replaceable Battery
2. Micro SD card slot for extra storage
3. Adobe Digital Editions Support (Check out books from the public Library)
Add these factors plus wifi, color touchscreen (some love it, some hate it, but at the very least the page swipe option is very nice), in store discounts/freebies, and EPUB support (More store options, ex: Sony Store) and I feel as though the Kindle lags behind the Nook.
The Nook is an upgrade, not a sidegrade from the Kindle and any of the Sony devices (don't get me started on those! So glad Target and Best Buy have display units).
Typically, when someone buys a device and enjoys it they tend to want to defend it and have trouble acknowledging that something better has appeared on the market. It is the nature of technology. While the Kindle has some advantages of its own (Longer battery life, excellent store, simple navigation) the Nook still trumps it. I absolutely love Amazon.com and shop with them all the time. If anything, they had the brand advantage until I was able to use both devices. With the Nook, I could play around with one at Best Buy and Barnes and Noble. With the Kindle, I could look at a non fully functional demo unit at Target. Luckily I was able to play with a friend's Kindle and when comparing the two devices, the Nook won hands down. Just my two cents