It's really odd to see a new product pre-announcement in an 8-K filing with the SEC, but that's how B&N chose to leak info about their upcoming Nook release. Since the discovery of this 8-K the rumor mill has kicked in to high gear and shares of B&N have shot up, but there's really nothing to get excited about.
There is a key signal in the 8-K that gives away what this product is, or more importantly, is not.
In a meeting with investor analysts on May 4, 2011, Barnes & Noble, Inc. (the "Company") indicated it expects to make an announcement on May 24, 2011 regarding the launch of a new eReader device.
This will not be another low cost Android based tablet
If you've ever seen any of the collateral materials used to market the Nook and the Nook Color there are clear distinctions in how each are described. The Nook Color is described as a tablet while the Nook is always called, simply, an eReader. You can look at bn.com, their in-store signage or pick up the brochure. All refer to the Nook Color as a tablet and the Nook as an eReader.
This will not be the next great Android Honeycomb based Nook Color offering better specs at cheaper prices. This will be a Nook, it will very likely be an addition to the Nook line and it will be priced somewhere near $99 to compete more directly with the lower priced Kindle. Don't delay buying that Transformer to see what B&N does next.