Yes. One of the best things I've ever purchased. Been reading several books from novels to textbooks. Heck, I bought one for my girlfriend as a pre-birthday gift lol. Although my outdated nook has served its purpose quite well, I would recommend getting the new version of the Simple Touch Reader (not in color) because it's much lighter, it's entirely touchscreen, the refresh rate is faster (~0.5 sec if that matters), browsing through the library with a touch screen is much easier, and the price is very reasonable.
Although I doubt it matters, compared to the older version, the simple reader does not have an internet browser and mp3 audio speakers; then again, I personally have never used them - I have a phone, a laptop, an iPod, and a PS3 to do all that. The newer version also seems to be much more durable and less fragile. I know this because my cousin, who lives next door, owns one.
Not sure about the color since I've never used one that long. I like the B/W e-ink/paper feel when reading. As for memory, you use a Micro SD card to expand it beyond 8GB but trust me, you probably won't have to. Each e-book that has about >1000 pages only takes 0.7 to 4 megabytes on average depending on format and content.
http://nooktalk.net/how-to/how-to-add-a ... o-the-nookAnd
Yes...it accepts everything from EPUBB to
PDF and even Word documents.
http://gizmodo.com/5807381/barnes-and-n ... r-you-wantNot sure about Kindle but they came out with some new products recently.