I just finished making a cover for my Nook using Nancy Zieman's Trace and Create template set. I LOVE it! Right now she's doing a designer blog hop so if you're considering making one you might want to check it out for some inspiration.
I decided to use Cat in the Hat fabric since its book fabric. Boy did it turn out cute!!
Instead of using elastic I cut apart a headband that has a silicone non slip grip on the back. I also used Craft Fuse Interfacing, Fast 2 Fuse Stabilizer & Nancy's Tablet Keeper Shapers...it's WELL PROTECTED!
I originally cut the binding at 2-1/2" as the pattern indicated but that was far too much binding for such a thin project. I took it off and went with a 2" binding. I tried to hand sew the binding but it's so nice and rigid that it was a losing battle. I opted to machine sew it to the front using monofilament thread.
The only thing that could make my book cover better would be a "this book belongs to" book plate like I had when I was a kid!