I was initially going to let this pass with out notice, but then I remembered that I wanted to see what the B&N version of the National Geographic Magazine looked like. Like all B&N periodicals, it's only available on the NookColor, the Nook Android app, and (as of last night) on the Nook iPad app.
It's okay, but it's really not anything more than a PDF. I suspect that most of the B&N periodicals will also be PDFs, so the iPad app version of a given title might be a better buy.
It doesn't have any annotation abilities beyond bookmarks, and it does not reflow the articles ( not quite). All you can do is zoom in on the pages. It does have a feature called "article view" which lets you read the text of an article sans ads, and that's nice. But this feature doesn't work with all the content (articles, sidebars, etc); just the feature articles.
It's not as good as the iPad app version, which has active content (oh my ghod it is so neat), a better layout and design, and costs the same. The NG Magazine iPad app is now available as a subscription for either $2 a month or $20 a year.