I use it at work two ways: The Reader is use for annotating PDF documents during documentation reviews, and the Journal is used to write notes during other meetings.

It's about as fast as writing on paper. It feels different which initially might slow you down. Once you get used to it you'll be fine. I recommend getting a pen-sized Penabled stylus. The skinny pen with the Edge can get uncomfortable. I had been using another reader for years before getting the Edge. The screen response of the Edge is noticably faster than the old reader.

Like I said, it feels different. The screen doesn't "give" like writing in a notebook. Imagine writing on a single sheet of paper on a hard counter.

For me, notes in a digital Reader usually do negate any need to keep paper notes. The Edge supports a number of features my old reader did not (tags and such) which makes the Edge even more useful as a search tool for historical information.