The OLED displays are one of the most attractive displays available for a microcontroller. It has a good view angle and pixel density which makes it reliable for displaying small level graphics. Interfacing this IC with MCU can either be done using IIC or using SPI hence helps to save some pins as well.
So if you are looking for a slim, attractive and efficient display module to make your project look cool with graphics then this module might be the right choice for you.
The Arduino Nano is a small, complete, and breadboard-friendly board based on the ATmega328 (Arduino Nano 3.x). It has more or less the same functionality of the Arduino Duemilanove, but in a different package. It lacks only a DC power jack, and works with a Mini-B USB cable instead of a standard one.