I got one of the new Nexus 7s about a month ago, specifically for a long trip we were taking. I have no regrets. So far, it's performed perfectly. The only thing I regret is not getting a 10", and I will probably remedy that when the next gen 10 comes out, whenever that might be.
The biggest issues I have are trying to integrate different libraries of e-books (free from Gutenberg vs Amazon vs Google) and different libraries of digital movies (Flixster, Amazon, Google), but this isn't really Google or Android's fault. I expect I'll sort the e-book thing out eventually, and the movie thing is tied up by the studios.
There's no issue playing the movies or reading the books, they just exist in different apps right now.