I love my Nook Color - I have had it for about 1 1/2 years now. The first thing I would suggest is taking the Nook class that is offered at B&N - it will provide you with more insight on what you can do and you will pick up some tips and tricks. I download books from the library for free so I don't spend a lot on the books. Ask your local library if they offer this and they can probably teach you how to do it or you can PM me and I can walk you through it. We bought my dad one last year for a combination b'day/fathers day gift and he loves it. He has arthritis and was having trouble holding library books and this has solved all his problems. He downloads from the library too. Here in Mass. you can get a Boston Public Library card if you are a resident and they have a large selection of e-books. He signed up for one along with his local library and never buys books.
Enjoy! Meghan