Barnes & Noble is holding a press conference in New York City on Monday and it looks like the rumors surrounding a possible Nook Color 2 announcement could be true. According to Engadget, which recently published a purported image of the new device along with specs, the Nook Color 2 will look identical to the current model. The tablet reportedly sports a 7-inch IPS color display with a 1024 x 600-pixel resolution, 16GB of storage, a dual-core TI OMAP 4 processor clocked at 1.2GHz, 1GB of RAM and more. Interestingly, Barnes & Noble may charge $250 for the Nook Color 2, which is $50 more expensive than Amazon’s $199 Kindle Fire. Engadget says the unit will hit stores on November 16th but that pre-orders begin on November 7th. We’ll be reporting from the event live on Monday morning so stay tuned for more details and, hopefully, a hands-on demo.