my rooted nook is painfully slow... even when OC'd.
I do think rooted Eclair is painfully slow. All that extra junk B&N added in drags down the OS. That is why I blew away the stock for Froyo within 24 hours of owning it. I don't want ebooks, I want the world's first affordable tablet.
With that said, I am 100% spoiled by Gingerbread with its GPU GUI acceleration. In the newest builds now that composite is fixed the interface really flys. The pinch-zoom and scrolling as just as responsive as on my iPhone (in Gingerbread). It is so nice that I have given up dual booting Froyo, because even though video playback doesn't work the browsing improvement has me in CM7 all the time.
That is why the next month is crucial, as CM7 should be "finished" hopefully in that time frame. Then the only problem with the NC is the lack of hardware buttons, which Honeycomb will fix.
But what do you expect? The nook color wasn't really a tablet to begin with... We just turned it that way
You say that, but I do think the Nook Color is a great tablet because it has just enough hardware.
Its 800mhz CPU isn't speedy, but its enough to get through the interface. When overclocked to 1.1GHz its faster than the original Galaxy Tab or iPad. The 512 mb of RAM is the perfect minimal amount for tablet use, and the GPU is the exact minimum one needed to play most games at the resolution supported by the Nook Color. Where B&N really spent the cash was on the screen, and I easily think it has the best 7 inch tablet screen on the market. Finally we all get "free"' bluetooth that B&N never intended to be there. Put all that together, and it makes a great basic tablet.
The problem is that the community is stuck with the task of taking this just good enough hardware and optimizing the OS for it so that the hardware can be maximized. Real progress picked up when the early Honeycomb builds brought in Droid developers, and thanks to the ebay deal enough new blood has come around that hopefully soon a "finished" non-stock OS will be available.