The 1.4 firmware (actually, it might have been the 1.3 firmware) definitely sped up page turns. My nook upgraded from 1.2 --> 1.4 yesterday once I input my local WiFi info, so I'm not sure.
All of my buttons make a low clicking sound. If it wasn't for the touchscreen page turn, I wouldn't own a nook (clicking buttons distract nursing babies).
But if you are getting a delay in response from one button but not the others, you may have a broken or loose button. I would take it in.
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