Comment IPad and an Adonit Stylus. (Score 2) 425
My experience, after about a month of using the following setup, is that it replaces any need for pen and paper, at least for what I use it for. I do a lot of note taking in meetings, etc, and that often includes diagrams.
My setup:
Ipad2
Evernote
Dropbox
NoteShelf
an Adonit Jot Pro Stylus. (This is as good as a balpoint pen on paper, with the right note taking app).
I've also tried out UPad as a note taking app, it works quite well - I just preferred the look and feel of the writing in NoteShelf overall.