I've implemented and consulted with many physicians on EMR systems for almost 10 years -- and I generally agree with you.
EMR's can be unbelievably useful, especially when the entire community is on the same database. For instance in one rural area I work with, there is only one hospital, and almost every physician in the community (including those in private practice) is integrated into the system.
No more consult notes faxed over, the ED can access the EKG done in the primary care office, primary care can access every drug prescribed for the last year by any physician (essentially) in a 20 mile radius, previous studies and xrays, hospital records, labs, etc.
The one issue is security, and I'm not sure I completely agree with their methods -- although its still fairly good. The security is very fine grained for non-physician staff, for instance a medical assistant can only access patients who their physician is treating, and only notes generated by their office, floor nurses can only access notes from the current visit for patients on their floor, etc. That being said, any physician (not NP or PA) can access any record in the system.
The only non-electronic notes in the community are the nursing / progress notes from behavioral health, but even then prescriptions, diagnosis, visit dates, and consult and admitting / discharge summaries are available.
It also is very good for public health and at implementing disease management protocols. Vaccines are almost never missed, diabetic's are prompted for foot care, cholesterol, HgA1C if needed, etc. (Physicians can design their own templates or the hospital will pay for someone else to do it according to their protocols).
As you mentioned the big problem is entering data, and that is a challenge esp. for free form notes. There are anatomical diagrams available, as well as voice recognition and other modes of entry. But a lot of physicians still do dictation (although they dictate to the note and its routed to the transcriptionist). Most of them have tablets, and in addition their are laptops on carts all over the place.