Congratulations on the iPad arriving! Did you get the iPad 2?

I bought Penultimate too. I think it is worth $1.99, but you're correct in that it wouldn't work very well for taking notes in hurried fashion--like a classroom. And as I suspected, with my fat finger I wind up with large sized notes! But I think it will have its applications and if they get the glitch fixed where iOS 4.3 messes up the VGA mirroring capability, it will make a nice app for using with projectors in classroom situations where you want to illustrate an idea or perhaps solve a math equation.

I agree that probably nothing can compare to pen and paper for taking notes, at least in my case as I am a very slow typist. But even if I could type fast, my note taking includes illustrations, charts, connections, and all sorts of things that would not be possible with a keyboard or keypad.