Which is better: The Ipad or the Nook Color?

Ok..so I will be starting college soon and was looking at getting one of these devices to use for college and also for recreation. I was looking for personal opinions as well as any information on these devices that you may have that will help point me in the right direction. I would much rather be looking at the Ipad 2...but I am working on a budget. I am wanting to know what the major differences between the two are. Any other info is welcomed!! Thanks!!