Barnes and Noble unveiled the Nook Color e-Reader in October 2010 priced at $249. I checked it out and was impressed by what it had to offer (features like email) at such a low price point. Though it was built on the Android platform, it did not have the ability to add applications. This week the Nook Color will be rolling out a software update that upgrades the devices and unlocks the ability to download Android applications. The application library is limited to about 125 titles at first (mostly reading related apps and games) but we expect that to grow with time. So in essence, the Nook Color just became one of the most affordable Android Tablets and e-readers with applications and Flash video support which could really give the super-basic Amazon Kindle a run for it’s money.