Knowing a smidgen more about these things (maybe?)
A few weeks ago we bought a Nook HD for £119 at JL.
As an ereader it is a bit of a loss (I would definitely buy a different product, probably the Kobo one), but the "great enabler" for this device is that it can boot from SD.
The first step was to get the Google apps onto the Nookified Android. A 4GB microsd card is needed - instructions here:
The result is pretty good, the only problem is that some Play Store apps are listed as not available - e.g. Evernote had to be installed from the B&N shop thing.
However there is an even better plan - get a fast microSD card (e.g. UHS type) and install vanilla Android on it, run the thing from the SD card:
That's working really well for me, all apps install happily (Evernote and Skitch included) and the device has a nice his-res screen that's bright enough to be usable in sunshine.
As a device it *does* have e-reader type limitations - no cameras, no GPS...