>>In BE I had no worries of overwriting my previous day tape if I ever left it in the tape drive for next evening. BE would always wait for the proper tape to be inserted. I wonder if there is any such option in NB!
You could set up separate Schedules for each day and direct them to use specific Volume Pool. Example: Schedule Name "Monday", Destination, Override policy volume pool: "Day1_pool"
>>I also want NB to erase whatever is on the tape, and write a new image. I would use a different tape for every weekday, thus appending images will run me out of space on a tape. How to accomplish this?
As Steve suggests, your Schedule Retention determines when the tape image expires and can be reused (overwritten), though you'd probably want it 1 Week (or maybe 6 Days) instead of 24 Hours.
So, you see, in NB you can have no worries too! :)