The SNHU program was just created this year- so I doubt you will find anyone who has graduated yet. =) SNHU is indeed a brick and mortar school in Manchester NH with several satellite locations in NH. It is a well known school in New England and has been around for a while. I do think they just invested a major amount of money into advertising their online program around the country- I recently saw a commercial for it while in Dallas, on the local TV network.
The program was created in partnership with the NH technical schools' (community colleges) nursing programs (students graduating form nursing programs from the NH technical schools can automatically enroll right into the BSN program and receive discounted tuition.) I recently graduated from a NH technical school with my ADN and was encouraged to enroll. I know the professors in my program were working with SNHU to help create the program throughout the last year, and as far as I know they were working with nursing professors from other programs at technical schools in our state. I don't think the program is fully accredited yet, but from what my dean told me they will be accredited ASAP. (from their website: "Our online nursing programs were created based on Commission on Collegiate Nursing Education accreditation requirements. SNHU is a provisional member of the American Association of Colleges of Nursing and is seeking CCNE accreditation.") The accreditation might be the only thing that could hold you back- but honestly I don't think most employers will check or care, but you may run into an issue if you are considering pursing an MS or a PhD at a different university down the line.
Here is the bad news- my experience with admissions so far has been less from perfect. The "admissions" counselor I talked to was sweet and nice, but wasn't super helpful and seemed to be reading off a protocol (I had to repeat 3 times that I had graduated this year before she finally got it and was able to deal with my questions correctly). But, honestly I think now-a-days most high level education institutes have pretty crappy beauracracy and sad customer service. I have also never worked with an online only program, so maybe my experience was standard for online programs (I have a previous BS and have attended 2 other universities) Despite this, I am probably going to go ahead and enroll, since I will receive discounted tuition and most jobs where I am now are insisting I have a plan in place for achieving a BSN. I am currently waiting to see what they accept as transfers from my other schools.