As I've said before, the Nook Color is solidly built, packs good specs and the option to boot off micro SD and the active developer community make this the most solid 7" tablet that's out. The Honeycomb SDK came out last week, the AOSP should be dropping within a few weeks and we already know it's able to run Honeycomb quite impressively given the constraints of a hacked up build from the preview.
You should still look into the Eee Pad Memo and the HTC Flyer just so you know what's out there, but they won't be matching the $200 price anytime soon. If the Nook Color caught your eye, keep in mind that B&N only ships to US addresses and there isn't any word on the return policy (I bought my first unit from BestBuy and the screen wasn't glued on properly making the bottom of the screen unresponsive at times so I returned it - but nobody else seems to have had problems).
Photo: xda-developers (user: deeper-blue)
UPDATE: some users report calling B&N and the return period is 14 days, unlike in-store where it's 30 days. B&N physical store will also not match the price, since it's an ebay exclusive.