It is the best tablet deal around. Running Honeycomb on it still lacks support for the hardware decoder, but it will come in time--older android versions support it fine.
It's slow. Animations and web page scrolling are ~15fps and controls in many apps take ~200ms to respond. Also, there's a problem with the 3g network component that prevents the nook from sleeping unless it's in airplane mode.
A lot of this is due to how the nook honeycomb image was done (it's a mashup of gingerbread+developer preview image components) and should be better once Google pushes out the Honeycomb AOSP code drop. This could also just be related to my install since other people on various threads aren't seeing some of the issues I am. The more polished Froyo and CM7 (Gingerbread) images run decently well but aren't as smooth as my Droid Incredible running its stock image.
That said, I'm happy with it as a ebook reader and web browser and it fits in my coat pocket, which is good for the subway. I like the OS changes in Honeycomb well enough to put up with the screwiness in the image.
It's fast; I'm running the 1.1ghz overclock, but it was decent even without it. The processor was probably underclocked for battery life, not because it was 'binned' as flaky at the normal clock.
To get the $200 deal, you don't "go" pick one up. At least when I bought mine, it was only available in their ebay store using a coupon. Shipping was free.
