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Unless you are already invested in a format (not library, since im a fervent supporter of DRM-less ebooks, one way or another...), then I suggest the Nook. Frankly whichever is cheaper and most advanced at the time you want to purchase is a good way to go. The Nook is still competative with the Kindle 3. Most of the time I find both libraries to be exact, so the only real reason to get one over the other is price and usability factor. That is still the Nook until the Kindle opens up to other formats, not being able to use epub is major issue imo.
If that one drawback doesn't matter to you though, then Kindle 3 all the way. It has better battery life (although the nook does have quite good battery in airplane mode) and now I think equal or maybe even a better e-ink screen.
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