Both the Nook and the Kindle are "jailed" tablets: general-purpose tablets that are deliberately locked down to run the Nook/Kindle software. I can't speak for the Nook, but my wife's Kindle Fire HD is an Android tablet "under the covers". If you just want to read books, I suggest you look at generic Android tablets: they tend to be a little cheaper and a bit more varied that the iPad models, and both Nook and Kindle are offered as free software downloads from Google Play (their equivalent of the App Store). You still buy Kindle content from Amazon and Nook content from B&N, but that's because they're the original vendors, and haven't licensed the rights out to others. I have been using an Acer Iconia tablet as a "Kindle reader" for several years now, without a hitch.
The Kindle Fire will let you watch YouTube on their "Silk" internet browser; the picture is divine, the browser only mediocre.
Cheers!
Humble Programmer
,,,^..^,,,