it does kind of depend on the type of schooling you are in. My classes are all lecture, a little math, diagrams. For my needs the tablet I got works great, it keeps all my notes in one place, it is so much better with tabletXP (the handwriting recognition works great, not perfect, but certainly useable) and I love being able to highlite using windows journal, my notes with the tabletPC turn out to be more useful than with a regular paper/pen, maybe I was just a horrible notetaker before.... shrug.
another thing, the tablet replaced my franklin too. Franklin Covey has a great software suite, helps with scheduling, notes, contacts etc etc just like the planner. More useful than Outlook because the software is suited for the stylus input.
anyway just my experiance.