Barnes & Noble released their eReader application for Apple's iPad, and Engadget has posted a short review. The Application allows Nook users to download most of their content to the iPad, and there's a bookshelf view with jacket art and a library search function. As with the Nook and other B&N clients, the iPad client supports LendMe for certain titles, but there's no in-app purchasing.
You can customize the page, text, highlight, and link colors any which way you want and there are some presets themes as well, ranging from "The Printed Page" to an inverted setting called "Night Light." The only issues Engadget had were with page turns and rendering -- flipping from portrait to landscape too fast would result in some brief wonkiness, and flipping pages too quickly would eventually stall the app and lead to a brief load time