Just over a year ago the first version of the Nook was released by book retailer Barnes & Noble. Coming off news last week that Microsoft was suing Barnes & Noble for patent infringement on its Nook, the company has released specs on the new edition of its (semi)popular e-reader: the $249 NOOK Color – set to go on sale this April.

Barnes & Noble plans to launch its own Android tablet app store in the first quarter of this year – letting Amazon and Borders know it’s not going anywhere.

Boston-based technology market research firm Yankee Group projects e-reader sales to hit $8.2 billion (72 million units) worldwide by 2014 – up from $1.9 billion (11 million units) from last year – and with Asia-Pacific accounting for almost half of the revenue. Fueling this worldwide growth? Growing content libraries (last year e-book sales more than doubled over 2009, and Barnes & Noble enjoyed a 20 percent market share) and color displays – both of which Barnes & Nobles’ latest Nook Color is garnering a reputation for.

Here are the Nook’s most discussed features (and lack thereof):

• 7 inch, 1024×600 display (traditional tablets are around 10 inches)
• Built-in Wi-Fi (but no 3G connectivity)
• Android operating system (but no app store access yet)
• Built in accelerometer
• Battery life at 8 hours (pretty poor)
• 8GB memory
• microSD slot
• Supports PDFs, Word, .mp3, and ePub files
• LCD screen
• Proprietary AC adaptor
• Full, free access to the Barnes & Noble catalog (2 million titles)
• Email support

Marketed towards heavy readers — in particular Moms with a big push into children’s book and periodical content, and positioned between a pure e-reader like Amazon’s Kindle and a full tablet like Apple’s iPad, here’s a roundup of Nook Color reviews from top tech blogs around the web:

Wired

Wired reviews overall is that they’re pleasantly surprised by the Nook Color. Features they love most: the keyboard (“year’s ahead of the Kindle’s”) and the content (“The storefront and reading implementation are better here than anything offered by Apple or Amazon”). What they disliked most: no browser, poor battery life, scrolling (instead of flipping pages on a tablet, you scroll) and transitioning display orientation (vertical/horizontal) are awkward, and that the screen size makes reading websites and magazines awkward.

“Nook Color may not make anyone with skin in the mobile media reader game happy. … [But others,] millions and millions of people — who have a phone and a PC, who don’t scour the web for tech news, and for whom a device that costs $250 that does a little bit of everything pretty well and a subset of things extremely well is extremely compelling proposition.”

Gizmodo

Overall, Gizmodo thinks the Nook Color’s niche of straddling the line of tablet and eReader means its set for success(“a new kind of cheap tweener tablet with functionality that’s both broad but limited”). But if you’re not looking for a souped up eReader with full color display, you’re probably not going to be impressed. Gizmodo believes the Nook Color’s display (size, resolution, etc. all perfect for browsing high-resolution color magazines and books) and low price point add to its attractiveness, but interface and operating systems (things like no pinch-to-zoom and slow speed) wane in comparison to anyone used to browsing a tablet.

“You can think about the Nook Color as a stripped-down tablet focused on reading or a very fancy ebook reader. … That context will ultimately determine how you feel. For now, you’ll be much happier if you think about it as the latter. But it’s arguably the first seven-inch device that’s been designed to be one from the beginning, rather than a puffed-up phone.”

Engadget

Engadget’s positive review (aside from lack of 3G and a poor operating system) essentially boils down to the fact that it’s the perfect device for any hardcore reader out there – from books to magazines and newspapers, noting a big push for the retailer into children’s material. They believe Barnes & Noble is gunning for the magazines market, evangelizing how the device is the first of it’s kind to offer full-color magazine displays.

“But besides all the reading you’ll be doing with the Color, you’re also buying into a potentially much bigger proposition — namely, the idea that come Q1, this thing will be a viable Android tablet with an app store of its own.”

CNET

CNET’s review pegs the device directly to the iPad, noting it delivers notable extras for a touch screen device, and for half the price. Positive features noted in this review include its “vibrant display,” built-in web browser, and support for video and audio files. On the flip side, poor battery life, no access to the Android Marketplace, and no Flash support as negative features.

“Barnes & Noble’s Nook Color is a very capable color touch-screen e-book reader–and delivers some notable extras–for half the price of an iPad.”

PCMag

PCMag places the Nook Color as a perfect device for magazine consumption. The review focuses on the device’s “16 million color” LCD screen as its best feature, alongside an “intuitive, touch-based” navigation. And like other reviews, PCMag raves that the Nook Color’s content selection is vast but its battery life and lack of 3G take away from it’s appeal.

“More than an ebook reader, less than a full-blown tablet, the Nook Color’s artful compromises make for a compelling, color reading experience that is ideal for both books and magazines.”