Rooting my nook color was not a difficult thing. There was a moment when I think that my heart stopped because I finished the rooting process and the thing would not come on. Patience my friend, about 4 minutes later the little droid dude pops up and I have my very own rooted nook.
I have lived with it for about a month now...my opinion on it??? Well, I agree with those that told me that it would be one of the greatest things ever. I now run Honeycomb and have a full fledged Android tablet. I can use my Kindle, Nook, Laputa, Amazon app store, Words with friends and the all important ANDROID market!!!! I recently installed the library's overdrive console so now I am able to use even more books. My reading has increased too. I was sick and tired of reading books under the cover with a flashlight by my cheek. Now I simply pull the covers over my head and read until my battery dies.
Battery life? The battery life is not as long as it would be had I kept it a Nook Color. Mainly because I am using more apps, more internet, and well, just more. If you have more, you use more.
Touchscreen? Sometimes it is glitchy but it is not a big deal. I believe it is more the ADW launcher than the tablet itself that is glitchy.
The specs? I am running Androd 2.3.3 Cyanogen Mod with the Iron Man theme background. It is actually the Iron man Droid. The rest is just mumbo jumbo that you probably don't care about.