I would reflash the ROM and gaaps after wiping data, system, cache & Davlik. Then they can set it up from the start with their own gmail account. But more importantly, you either have to revert to stock first and deregister your Nook or tell them that you are selling this as a CM7 Nook only and they will not be able to use it with the stock ROM. Be up front about it if you don't deregister it. Too many people have been posting lately about how they just bought a used Nook Color & can't register it with B&N.
I would wipe it back to stock and offer to root it for a fee. I preferred mine was stock but he had it at 1.2 and still registered, (I wonder if his boss knows he's sending resumes from his work account?). Anyway, wipe it till the the video wants to play when you boot it.
Thanks for the info. I had forgotten about the B&N registration part. If the buyer just wants an Android tablet and doesn't care about the B&N aspect... is there any worry about my B&N account registration? I don't think I entered a credit card when I registered, and in any event that card has been replaced since then...
mooniegt, I wouldn't be worried about your account information getting into the hands of others if you have wiped your Nook, but the new owner could have problems with the Nook being registered to your account if they ever want to go back to stock as patruns stated. Since you are getting rid of it anyway just make sure it is taken care of for the new owner. Create a bootable CWR SD card and put stock 1.2 or 1.3 zip on it, CM7 7.1.0 zip and the latest Gapps zip (only 3 files in total)
Power down insert card and boot up. Wipe /data and /system, clear the cache partition and dalvik cache and then flash 1.2 or 1.3 stock ROM. Unmount card, remove and reboot. Go to the settings menu and then choose erase and deregister.
Then power down, insert card and power up. Wipe /data and /system (just making sure it is totally fresh and clean) and your cache partition and dalvik cahche. Flash the CM7 7.1.0 zip, then flash the Gapps zip. Unmount card, remove and reboot. If you get the welcome setup you have fresh clean CM7. Power down and sell.
Start to finish even if you need to create a bootable CWR SD card is less than an hour (unless you have dial up for downloading the three files). Best result for everybody invloved.
Also, when you restore you will have to register again first before you dregister, but don't worry, that will not register you twice. You just have to go through the process before you can deregister.