Nook Color a MiniMe iPad?

Today Barnes & Noble announced their Nook Color e-book reader. The new version is priced at $249 and will begin shipping on or around Nov. 19, and is now available for pre-order. There is no 3G network connection but there is Wi-Fi. Overall the unit looks sexy and could be a real winner at the $250 price point. I personally think Barnes & Noble just hit a huge home run with this product. The pricing and color screen could really take a  bite out of Amazon and even iPad sales. I guess we shall see. What are your thoughts?