The SONY readers allow that. The last two generations (PRS350, 650, 950 and PRS-T1) all have touchscreens that are very responsive (previous touchscreens, on the PRSx00 series, were slower). You can use your fingers or stylus to highlight or annotated, or the on-screen keyboard to type notes.
Once you are done annotating, you can export your notes and highlights to an RTF file. Highlights will bear captions indicating the date/time and page number from which they originate.
Now, some disclaimers. For copyright-protected books, you can only export a limited number of characters for each highlight. I don't recall the exact number, but I think it is 100. Which is not much. For books without copyright, you can export, I believe, 2,000 characters per highlight.
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