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B&N has an updated reader for iPad. It looks pretty amazing, and in some ways is better than Kindle for iPad. I'd say the text presentation is 100% clearer, and it's a little easier on the eyes in sunlight.
Lots of cool functions, as well. Library interface isn't as nifty as Kindle for iPad (did anyone else notice how the homepage changes based on the time of day?), but that's aesthetics.
Coolest feature: Lend Me.
Not so cool: I have to type in my credit card number to activate books on my other devices.
Also, B&N has a Free-Book-a-Week program. Butcher's first Dresden book is available now. You have to take your reader device (nook, iPad, Blackberry, MacBook, et al) into the store and show it to someone in CS. Then they'll give you a code and you can download the book right there while enjoying a triple-tall white mocha. Pretty nice, and a good way to get people into my favorite hangout.
Still gonna wait for the Notion Ink Adam.
It's screen has both led and e-ink making for an easier read.