Kindle vs Nook

My daughter wants a Nook Color for Christmas and I have to admit, I know nothing about ereaders except they exist. I have friends who have a Kindles and absolutely loves it. But other than that I have no knowledge, so if your like me and want to know what others think to help you make a decision for yourself in the future. Here is what I found out.(The information I found is from ireaderreview.) It also has not been updated since August and the Nook Color is out now so some of the information I found is a little out dated but still I found it helpful.

This Kindle 3 vs Nook review compares Kindle 3, Nook based on what we know so far. The Kindle 3 is $189 and available for preorder at Amazon (it ships August 27th).
Doing a Kindle 3 vs Nook post is a bit unfair because a Nook 2 is in the works and we really should compare Kindle 3 with Nook 2. Will update this post when it comes out.
Kindle 3 vs Nook – Areas Nook Wins
The Nook clearly beats the Kindle 3 in a few areas -
LendMe – When Publishers allow it B&N books have a LendMe feature that lets you lend an ebook once to one person (it’s basically like a single 14 day rental).
ePub support – Nook supports ePub including DRMed ePub. This is important since most major ebook stores (except Kindle Store) sell ePub books with DRM.
Library eBooks - The majority of libraries use Overdrive and lend out ePub books with DRM. Since Nook supports ePub and DRMed ePub you can read library books on it. Do check with your library to confirm ePub support and to get an idea of its ebook collection.

There are a few other Nook benefits and features you might value -
B&N Stores – When in B&N stores you are free to read any ebook for up to an hour (it’s an hour a day so you can keep going back to finish the book). B&N also has periodic promotions in its stores.
Transfer your Sony Reader library – If you’re switching from Sony Reader you can download all your purchases in ePub format and they will work on the Nook.
Transfer your eReader.com and Fictionwise.com books – Nook supports pdb format which these two bookstores use (B&N bought these two sites).

Kindle 3 vs Nook – Areas Kindle 3 and Nook are very close or in a tie
The Kindle 3 vs Nook contest is constantly evolving with software upgrades and new releases and there are lots of areas where they are basically in a tie -
eInk – They both have eInk screens (though of different screen contrasts, more on that below). eInk is easy on the eyes, readable in sunlight, and great for reading.
Price – Kindle 3 is $189 and Nook is $199.
Apps for a variety of platforms – Both Kindle and Nook have a variety of apps that let you read your books across different devices. These include Apps for PC, Mac, iPhone, iPad, Blackberry, and Android.