I vote for content.module primarily because the significance of the word "node" is not easily grasped by normal people. So because the name of the module will be visible in URLs to Drupal end-users, I vote for "content".
I like "content" as well. It is simple, obvious, and a single word.
Node != content. Or if we use the name 'content' for 'node', we could actually replace all apperances of 'node' with 'content'... I assumed we use the 'content' word on the interface to not scare people, but acknowledging that a 'content' is less then a 'node'. It all comes down to the definition of course, so both of these words can mean the same. But is a 'user profile' (which is going to be buildable with CCK) a 'content'??? Is a product a 'content'? I would not use this word for it. But then I am not a native English speaker, so I might have a different view on it... Goba