Developers at the XDA Forums have broken into Barnes and Noble’s Nook Color, meaning that a high-quality name brand 7-inch color Android tablet that runs most Android apps is now at $250.

While the rooting is a significant event, it won’t mean much to the average consumer who doesn’t want to have to hack into his tablet to get it to run basic apps.

However, it does mean that the Nook can be manipulated. Perhaps if Barnes and Noble see the popularity of putting a regular Android build on the tablet, they’ll be swayed to open it up for everyone.

I’ve handled a Nook and find it to be a solid device, both skinnier and heavier than the Samsung Galaxy Tab.  The processor isn’t a speed demon, however.  I’d put it at around a mid-level smartphone.

The thing that has everyone so excited is the price.  At less than half of the price of a Tab, the Nook ($250), with many similar specs, can be sourced from Barnes and Noble.  That price point is significantly below Apple’s iPad or Samsung’s Galaxy Tab but the build is so much better than those $100 off brand devices that are turning up everywhere.