I'm still steaming through a book a month on the little monster. Battery lasts forever, the screen reads great...
The ReLaunch rom for it is quite nice to work with, I can access my server with books using Total Commander and SSH, AlReader is quite adjustable (if not updated for Android 2.1 since forever, of course)... I even downloaded a couple of custom eReader fonts for it, Using Bookerly, now.
I just wish some apps were still updated for it. But then that's the bleeding-edge software lover in me talking, it actually works fine and doesn't need any updates.
I had to stop using mine when I ignored it for about 6 months and came back and it couldn't connect to wifi anymore because it needed a system update. I have had time to try to do anything with it through my desktop, so it just sits on my nightstand and does nothing. I got a new Nook since then (easier to buy something than fix something. Ugh.)
Ah, yes, that can be fixed by installing a custom mod on it, as I recall, but that does take some time to do, as you say. That is, I recall having that issue and fixing it somehow with help from XDA, but that's about it.
Had to retire my simple touch since the back rubber started to melt and get sticky. Replaced it with a current gen glow light I think is what they're called now.